Nutrien Stock Surges 4.05% to $62.89 as Bullish Momentum Builds

Nutrien (NTR) concluded the most recent session at $62.89, marking a significant 4.05% gain. This advance represents the third consecutive positive session, bringing the total 3-day gain to 5.10%, indicative of strengthening near-term momentum.
Candlestick Theory
Recent price action exhibits a robust bullish breakout pattern. The session ending June 13th formed a large bullish candle with limited upper shadow, closing near the session high ($62.89 vs. high $62.915), signifying strong buying pressure and conviction. This occurs near the psychologically significant $63 level. Key support is now observed near the prior consolidation around $60.00-$60.50, confirmed by multiple prior lows. Resistance manifests clearly around $62.90-$63.00, aligning with both the June 13th high and the $63 round number. Overcoming this zone is key for continued upside potential.
Moving Average Theory
The moving average structure presents a bullish medium-term trend. The current price ($62.89) trades significantly above key long-term averages (200-day ~$50.25, 100-day ~$51.80) and the shorter-term 50-day moving average (~$56.80), confirming a strong uptrend. Critically, the 50-day MA appears poised to cross above the 200-day MA (a Golden Cross signal) in the near future based on trajectory, a major bullish technical development suggesting potential for sustained upward movement if confirmed.
MACD & KDJ Indicators
Momentum indicators signal strong bullishness with potential overbought conditions developing. The MACD line is positioned well above its signal line within positive territory, and its histogram shows expanding bars, reflecting strong accelerating upward momentum. The KDJ indicators are elevated: K-line (~89.1), D-line (~82.5), and J-line (~102.3) are all deep in overbought territory (above 80), suggesting extreme short-term strength. While this indicates powerful bullish momentum currently, the overbought KDJ warrants caution for a potential short-term pullback or consolidation, though divergence with MACD is not yet present.
Bollinger Bands
Bollinger Bands highlight heightened volatility and a strong bullish surge. The June 13th closing price sits firmly near the upper Bollinger Band (~$62.75), indicating an extended price move beyond typical volatility. Notably, the bands widened significantly leading into and during the breakout session, reflecting a sharp increase in volatility accompanying the strong price advance. Such a move often follows periods of contraction (the squeeze near $59-$60), and while the current position signals strength, it also increases near-term risk as prices tend to revert towards the moving average (now near $56.80).
Volume-Price Relationship
Volume patterns lend strong validation to the recent breakout. The substantial surge in trading volume (+133% vs. prior day) on June 13th coincided with the sharp price advance and breakout through the $60.90-$61.00 resistance area. This high-volume breakout significantly increases the technical reliability of the move. However, the preceding two positive sessions had relatively modest volume growth, making the June 13th high-volume confirmation particularly crucial for establishing conviction behind the breakout.
Relative Strength Index (RSI)
The RSI calculation yields a value of approximately 75.2, based on the formula applied to the recent 14-session gains and losses. This firmly places the RSI in the overbought territory (>70), reflecting the substantial near-term upward momentum. While this indicates strong bullish conditions, it also serves as a warning signal. Historically, RSI values above 75 often precede consolidation or short-term pullbacks as the move becomes extended. Market context is key; strong trends can see RSI remain elevated for periods.
Fibonacci Retracement
Applying Fibonacci levels to the primary recovery swing from the significant low near $44.58 (Apr 2024) to the recent peak at $53.84 (Jan 2025):
Major retracement levels: 23.6% ($51.50), 38.2% ($50.25), 50.0% ($49.20), 61.8% ($48.15), 78.6% ($46.75).
Current price action is well above all key retracement levels, confirming the strength of the bullish trend reversal since the April low. Prices pushed past the prior peak ($53.84) with force and are now extending significantly into new higher ground. Key projection levels based on the same swing include the 161.8% extension near $64.55, approaching which coincides with the $62.90-$63.00 resistance zone identified earlier.
Confluence & Divergence
Significant technical confluence supports the notion of key resistance near $62.90-$63.00: the June 13th high, the $63 psychological level, and proximity to the 161.8% Fibonacci extension. A decisive close above this zone could trigger further upside targeting $65.50. No major bearish divergence is currently apparent between price and the key momentum oscillators (MACD, RSI, KDJ) – all are confirming the price strength. The primary caveat lies in the overextended signals: the deeply overbought RSI and KDJ readings, combined with the price pushing the upper Bollinger Band, suggest the advance may be ripe for consolidation or a modest pullback in the immediate near term despite the strong bullish structure. A retest of the $60.00-$60.50 support zone could offer a more stable foundation for further gains. The technical structure remains favorable overall, but short-term exuberance warrants vigilance.