Here’s a chart for your review. I’ve never heard of CVR---I found them on a stock scan. From the company’s website
They are not one of the fertilizer names that you hear about.....might be an opportunity. I know that I'm looking.CVR Energy is an independent petroleum refiner and marketer of high value transportation fuels in the mid-continental U.S. and, through a limited partnership, a producer of ammonia and urea ammonium nitrate, or UAN, fertilizers. At current natural gas prices, our nitrogen fertilizer business is one of the low cost producers and marketers of ammonia and UAN in North America.
1 comment:
June 3, 2009
Hi Leisa,
Interesting company yes. Energy oversold, CVI June 1 daily RSI7 of 89.86, now coming off perhaps heading to EMA20.
Due to heavy, consistent rainfall this spring, believe farmers planting more soybeans which do not require as much fertilizer.
Farmers should have completed corn planting by May 15th to avoid first frosts in Fall. If corn not planted by then, farmers have option to plant soybeans. Corn requires more fertilizer, especially more nitrogen fertilizer.
Could provide headwinds for CVI.
(No position)
Seamus ;)
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