Agribusiness equities are illustrating notable technical improvement as agricultural commodities regain upward momentum. The VanEck Agribusiness ETF (MOO) is demonstrating enhanced relative strength and bullish momentum as it recommences its long-term upward trend.
Within this sector, Nutrien Ltd. (NTR) is breaking out of a corrective phase, with technical indicators supporting further near-term gains. MOO has established what technicians view as a bullish long-term setup following a strategic turnaround in 2025. The ETF has successfully cleared resistance associated with the monthly cloud model—a key long-term breakout that underpins a constructive outlook for the remainder of the year.
On the monthly timeframe, stochastics are exhibiting a bullish continuation pattern, while the MACD indicator is trending upward, signaling strengthening long-term momentum. The next significant resistance cluster aligns with a 61.8% Fibonacci retracement level, approximately $90. Against this backdrop of sustained bullish momentum, MOO has generated a positive intermediate-term technical catalyst.
Following a bounce off cloud-based support, the ETF has produced a weekly MACD crossover, reflecting renewed intermediate-term momentum. Additionally, relative strength versus the S&P 500 Index (SPX) is showing signs of stabilization near key relative support levels. The narrowing underperformance relative to the broader market adds credibility to MOO’s price breakout and suggests potential for continued relative outperformance among agribusiness stocks in the weeks ahead.
NTR mirrors MOO’s constructive setup. The stock has transitioned out of a corrective phase—an encouraging intermediate-term development—bolstered by a weekly MACD buy signal. The weekly cloud model also presents a supportive structure that could aid price momentum moving forward. Furthermore, NTR’s relative performance versus the SPX has improved significantly, with the stock rebounding from trendline support and reclaiming its 40-week moving average within the ratio chart.
On the daily chart, NTR has broken above the daily cloud model, effectively reversing its prior intermediate-term downtrend. The stock has also cleared minor resistance from late July around $71, which now serves as a new support level. Short-term momentum remains robust, as evidenced by the daily MACD, with additional trend-following metrics such as the 50-day moving average beginning to turn positive. This breakout supports potential upside continuation toward the March peak near $85.
Both MOO and NTR present compelling technical profiles amid a resurgence in agribusiness momentum. With both formations rooted in long-term uptrends and accompanied by improving relative strength, the sector appears poised to outpace the SPX over the intermediate term. — Katie Stockton with Will Tamplin
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