Nutrien Slides 1.11% As Technicals Show Persistent Selling Pressure Below Key $57 Resistance

Nutrien (NTR) declined 1.11% to close at $56.37 in the latest session, with trading volume reaching 3.64 million shares. This analysis assesses the technical posture using multiple methodologies without visual chart rendering.
Candlestick Theory
Recent candlesticks show consolidation between $56.00 and $57.50, with the latest session forming a bearish close near the daily low ($56.32-$57.29). This suggests persistent selling pressure at the $57.00 resistance zone, now reinforced by three failed breakout attempts since mid-September. Immediate support converges at $56.00 (tested twice in September 2025), with a breakdown potentially targeting $55.00. The multi-month resistance near $58.50 remains a critical barrier for bulls.
Moving Average Theory
The 50-day moving average (approximately $57.40) crossed below the 100-day MA (approximately $57.80) in late August, confirming a bearish medium-term trend. The 200-day MA near $55.20 provides a critical long-term support floor. Current price action below the 50/100-day MAs signals sustained downward momentum, though proximity to the ascending 200-day MA may induce consolidation. A sustained break below $55.20 would indicate major trend deterioration.
MACD & KDJ Indicators
MACD lines remain below the zero level, with histogram bars extending negative since early September – confirming bearish momentum. KDJ oscillators show the %K line (17) and %D line (22) in oversold territory but without bullish crossover. This divergence suggests weak buying interest despite technically oversold conditions. Both indicators lack reversal signals, supporting potential further downside before stabilization.
Bollinger Bands
Bands contracted sharply in early September (volatility squeeze) before expanding downward last week. Price currently hugs the lower band ($56.20), indicating continued bearish pressure. Band expansion during declines suggests strong directional momentum. A close above the midline ($57.50) would signal relief, while sustained lower-band tagging often precedes short-term bounces.
Volume-Price Relationship
Down days since September 15 show elevated volume (3.64M on Sep-23 vs 2.23M on Sep-22), validating selling pressure. Notably, the August 7 sell-off (6.07M shares) established a high-volume resistance floor near $58.50. Current volume patterns lack accumulation signals, undermining recovery prospects. A bullish reversal would require decisive volume expansion on up days.
Relative Strength Index (RSI)
The 14-day RSI reads 37, approaching oversold territory but not yet extreme (30). This reflects negative momentum without capitulation. Earlier September rallies stalled at RSI 60 (below overbought threshold), indicating weak bullish conviction. The current RSI level alone doesn't guarantee reversal; confirmation would require bullish price action diverging from RSI troughs.
Fibonacci Retracement
Using the June high ($65.08) and December 2024 low ($44.75), key retracements emerge: 38.2% ($56.80), 50% ($54.90), and 61.8% ($53.00). Recent price rejected precisely at the 38.2% level, confirming its technical relevance. The 50% retracement aligns with the 200-day MA ($55.20), creating a high-probability support confluence zone. A breakdown here may accelerate declines toward $53.00.
Confluence and Divergence Notes
Significant confluence exists at $55.20–$55.50, where the 200-day MA, Fibonacci 50% retracement, and August swing low intersect – making this a critical support test zone. Divergences appear in momentum oscillators: While MACD/KST show entrenched bearishness, RSI and price action haven't yet confirmed oversold exhaustion. Volume divergence also persists, with no accumulation signals preceding recent rallies. Traders should monitor $55.20 for potential reversal patterns, as multiple indicators suggest this level may trigger technical bounces if tested. Conversely, clearance of $57.50 resistance requires volume expansion to establish credibility.