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CF stock slipped the gains and is close to the support zone of $80. - 2
CF stock closed flat with 0.65% slippage in the last session.
CF Industries Holdings Inc. (NYSE: CF) CF Industries Holdings, Inc. engages in the manufacture and distribution of nitrogen fertilizer. The firm owns and operates nitrogen plants and serves agricultural and industrial customers through its distribution system. It operates through following segments: Ammonia, Granular Urea, UAN, AN, and Other. The Ammonia segment produces anhydrous ammonia. The UAN segment creates urea ammonium nitrate solution. The AN segment makes ammonium nitrate.The company was founded in 1946 and is headquartered in Deerfield, IL.
Will CF Stock Attain Pace Amid Q3 Headwinds?
CF stock (NYSE: CF) slipped below the 200-day EMA amid selling pressure noted in the last session. Sellers were triggered as the Q3 earnings results were below the estimates. The stock is near the support zone of $80. Furthermore, the chart broke down from the rising wedge pattern and slipped below the significant moving averages.
At press time, CF stock price was trading at $79.26 with an intraday drop of 0.65%, highlighting the neutrality on the charts. Moreover, the trading volume increased by 0.45% to 1.978 Million while the market cap is $15.293 Billion. Analysts have maintained a buy rating with a yearly target price of $89.44 suggesting a growth outlook for the upcoming sessions.
CF Stock Price Prediction 2023
CF stock shows neutrality on the charts and is close to the 100 day EMA near the support zone of $80. Furthermore, the price action suggests that CF stock will face a resistance from the $85 level, followed by $90, and if it surpasses that range, it will gain sharp momentum.
The ongoing trend suggests that CF stock has the potential to reach the maximum of $85 by 2023. Conversely, if the stock violates the immediate support zone of $70, it will go toward the lows of $60.
The RSI curve is below neutrality and shows a bearish divergence. The MACD shows a bearish crossover and red bars on the histogram suggesting a negative outlook for the upcoming sessions.
CF Stock Price Prediction 2024
On the monthly chart, CF stock showed a retracement and has retested the 20 day EMA near $80. Furthermore, the chart shows that CF stock retraced from the highs of $110 and is now ready for a pullback to retest the highs.
As per the Fibonacci retracement levels, CF stock has the potential to reach $115, followed by $125 by 2024. Conversely, in case of bearishness, CF stock may retest the support zone of $50.
CF Stock Price Prediction 2025
On the 6 months chart, CF stock noted a rejection candlestick from the supply zone of $115 and made a gravestone doji signifying the bears’ strong grip. Furthermore, the stock paused near the support zone of $80. Otherwise, it could retest the lower zones.
If buying momentum continues, CF stock has a strong potential to catch the maximum of $150 by 2025. Conversely, in case of bearishness, CF stock will reach the minimum of $45 by 2025.
Summary
CF stock price is trading close to the support zone of $80 and retraced in the past sessions. The stock is below the immediate support of 100 day EMA due to the disappointing earnings result. However, CF stock has the potential to sustain at the round mark of $100.
Technical Levels
Support Levels: $75 and $70
Resistance Levels: $85 and $100
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/02/cf-stock-price-prediction-2023-25-cf-setbacks-post-q3-update/