- Corteva (CTVA) shows strong technical momentum, trading near its 52-week high.
- CTVA has a 100% technical “Buy” signal via Barchart.
- Shares are up 33% in the past year, and more than 25% in the year to date.
- The stock is outperforming its peers and boasts strong fundamentals.
Today’s Featured Stock:
Valued at $48.6 billion, Corteva (CTVA) provides agriculture products. The company develops and supplies germplasm and traits in the corn, soybean and sunflower seed markets. It also supplies products to the agricultural input industry which protect against weeds, insects and other pests, and diseases to enhance crop health.
What I’m Watching:
I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CTVA checks those boxes. Since the Trend Seeker signaled a buy on May 8, the stock has gained 6.48%.
CTVA Price vs. Daily Moving Averages:
Barchart Technical Indicators for Corteva:
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
When a stock is trading only 0.17% below its 52-week high, it won’t take much to hit another new high.
- Corteva has a 100% technical “Buy” signal.
- The stock closed at $71.19 on June 3, above its 50-day moving average of $63.76.
- CTVA has a Weighted Alpha of +38.56.
- The stock has gained 33% over the past year.
- CTVA has its Trend Seeker “Buy” signal intact.
- Corteva is trading above its 20, 50 and 100-day moving averages.
- The stock has made 11 new highs and gained 14.2% in the last month.
- Relative Strength Index is at 75.96%.
- The technical support level is $70.36.
Follow the Fundamentals:
- $48.6 billion market cap.
- 25.38x trailing price-earnings ratio.
- 0.96% Dividend yield
- Revenue is projected to grow 2.13% this year and another 3.53% next year.
- Earnings are estimated to increase 17.01% this year and an additional 17.50% next year.
Analyst and Investor Sentiment on Corteva:
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.
It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are moderately bullish on this stock.
- Wall Street analysts tracked by Barchart issued 14 “Strong Buy,” two “Moderate Buy,” and five “Hold” opinions on the stock.
- Value Line gives the stock an average rating.
- CFRA’s MarketScope rates the stock a “Hold.”
- MorningStar thinks the stock is fairly valued and comments: “Following two years of profit declines in the crop protection business amid industrywide inventory destocking by farmers and farm retails, a strong start to the year signals destocking is largely complete and demand should begin to normalize.”
- 103,180 investors monitor the stock on Seeking Alpha, which rates the stock a “Hold.”
The Bottom Line:
Corteva currently has momentum and support from both the market and individual investors and seems to be beating its competition Bayer and BASF.
I caution that CTVA is volatile and speculative — use strict risk management and stop-loss strategies.
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
