The VanEck Agribusiness ETF (MOO) is demonstrating improved performance and momentum as it resumes its cyclical uptrend, having cleared significant resistance levels. This long-term bullish setup is supported by positive indicators such as a bullish 'pop' in monthly stochastics and an upward trend in the monthly MACD.
The next major resistance for MOO is near $90, defined by a 61.8% Fibonacci retracement level. Nutrien Ltd. (NTR) is also emerging from a corrective phase, showing a similar bullish intermediate-term development with a weekly MACD 'buy' signal and a recovery above its 40-week moving average.
The stock has broken out above its daily cloud model, reversing its downtrend and suggesting potential upside toward the March high of $85. Both MOO and NTR are positioned favorably within the agribusiness sector, which is expected to outperform the broader S&P 500 Index in the near term, driven by improving relative strength and technical setups