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- 3/15/2024 -
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Corteva (CTVA) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe price touches the upper Bollinger BandThe Bollinger Bands are historically close together
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It was a second consecutive positive week for the Corteva (CTVA). During the week, the CTVA climbed 0.41 points, or 0.75%, and closed at 55.09 on Friday, March 15, 2024. CTVA was trading at average weekly trading volume.

CTVA is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CTVA long-term trend chart]
A long-term downtrend had started on November 2, 2022 at 68.43 and reached 43.22 on November 13, 2023. CTVA lost 25.21 points, or 36.84%, in 53 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (37.73) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See CTVA medium-term trend chart]
A medium-term uptrend had started on January 19, 2024 at 44.01 and reached 57.76 on February 1, 2024. CTVA gained -13.75 points, or -31.24%, in 1 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (56.80) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See CTVA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 22, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See CTVA short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 55.79 and reached 54.49 on March 14, 2024. CTVA lost 1.30 points, or 2.33%, in 1 days. The price is now at the 46.15% retracement level.

Daily Technical Indicators: [See CTVA daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 23, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands (3.99%) is close to one year low (3.80%). It is 64.62% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.37
Williams' Percentage Range (W%R) 37.40
Lane's Stochastic (%D-Slow) 75.71
Greed/Fear Indicator (GFI) 63.89
Moving Average Converg./Diverg. (MACD) 1.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.13
Williams' Percentage Range (W%R) 20.10
Lane's Stochastic (%D-Slow) 76.22
Greed/Fear Indicator (GFI) 72.38
Moving Average Converg./Diverg. (MACD) -0.75
Trading Signals
Description Value Chart
Monthly Trendline Resistance 57.14
Monthly Trendline Support 56.80
Daily Stochastic Crossing 55.30
Upper Bollinger Band 55.23
Price 55.09
20 Day Moving Average 54.56
Weekly Stochastic Crossing 54.56
Parabolic System 53.54
Lower Bollinger Band 53.03
Yearly Trendline Resistance 52.62
50 Day Moving Average 51.03
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Fertilizers & Agricultural Chemicals 68
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 55.79
High Date 03/13/2024
Low 54.49
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 51.31
Low Date 02/06/2024
High 55.79
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 57.14
Support 56.80
Low 44.01
Low Date 01/19/2024
High 57.76
High Date 02/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.22
Low Date 11/13/2023
High 57.76
High Date 02/01/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 52.62
Support 37.73
High 68.43
High Date 11/02/2022
Low 43.22
Low Date 11/13/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.