Corteva (CTVA)
By Mon, Feb 14, 2022
Hey,
Stocks have been a rollercoaster lately, especially after the newest CPI numbers came in marking inflation at 7.5% year over year.
That’s why we’ve been looking at value as cyclical trading brings rotation back into recent underperforming stocks.
Which brings us to today’s Chart of the Week, Corteva (CTVA).
This $37 billion agricultural chemical and seed company has built a beautiful base, and is ready to rip above its former highs.
We are long in CTVA above 50 with a target of 70.
Below 50, we’re not above former highs and there’s too much downside.
But above that 50 level, we’ve got 40% upside with clearly defined and limited risk.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
