CTVA SHORT TRADECTVA has formed a double top at a previous resistance level, where price has never been able to push above.
Also price has formed 2 bearish pinbars which could indicate a reversal.
I also really like this trade because the stock is in the Basic Material sector, which has been the worst performing sector in the past year, so it makes perfect sence to short a stock in this sector.
We can therefore take a short trade now
CTVA trade ideas
CTVA added to the watchlistCorteva (CTVA) is forming a potential setup. I like the chart, but ideally I want to see the price action contract and consolidate between $33 and $32 (approx.), and the longer it does that the better. I would then want to see the price break above the top of that consolidation. Patterns like this can be very powerful in newly listed stocks, but for me, I need the above conditions to occur before I get involved.
So no trade yet, but will be watching closely over the next month.