Looking for a good tasting trade? Check Nutrien ($NTR). (November 22, 2021)


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We are looking at Nutrien ( NYSE: NTR ) today. Why are we looking at this? Well, I was holding my usual Monday live training trading session this morning and one of our members asked about this. I am always looking for new trades, I am reviewing open trades that we have and a couple of other things. I get a lot of requests for different stocks and, frankly, most of the answers are, not now, I don’t think so, this is what you want to look for, but I am not doing that here.

The reason is, that this is actually forming a pretty good kind of basing pattern here. You can see the 50-day moving average is key. Sometimes it gets crushed and that’s why people lose money, the same thing here, it falls below it. But when the stock tags this 50, like here, like here, it didn’t even quite make it there, but you can see, when the stock tags this 50 and holds up, that’s when you make money. When it falls below, that’s when you lose money or you have got to white-knuckle it.

What I am seeing here with Nutrien ( NYSE: NTR ) is, after today’s volume, which was really heavy, the stock looks to me like it is holding up just fine and it’s probably going to make new highs here.

So what I would suggest you do is, if you like this stock, and this is your trade; it isn’t mine, if you like this stock you have got to give it at least 4 percent, that is to the bottom of Thursday’s intraday low of 67.00, so you want to keep it a little bit below that. You could even drop it all of the way down to below here, but that is kind of giving it, maybe, a little more room than you want to give it because the whole idea of buying this stock is because you expect this, you don’t expect this kind of pullback.

And so you know, frankly, on something like this you want to keep your stop maybe a little snugger than you normally would just because you’re expecting this. And I would also trade fairly small to start with. The base is, it’s down a little bit fast but I like the way this is trading. But you might want to start a little bit small and give the stock room to wiggle. Then if the stock starts proving us correct, that’s when you would add to the position.

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