It's time to revisit agricultural chemical and seed company Corveta Inc. ( CTVA) , which we last reviewed March 22 when we wrote, "We have recommended purchases of other ag plays like ( MOS), ( CF), ( BG), and ( ADM), and now we can add CTVA. Traders could look to buy a dip to $55 on CTVA risking to $49. Our targets are $68 and then $84." Let's check out the latest charts of CTVA. 
In this daily bar chart of CTVA, below, we can see that prices are getting close to our $68 price target. CTVA is trading above the rising 50-day moving average line and above the rising 200-day line, which was successfully tested in late June and early July. The trading volume has been declining on the rally from July but the On-Balance-Volume (OBV) line shows a rise, telling us that buyers of CTVA are more aggressive, with heavier trading volume on days when CTVA has closed higher. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but it has narrowed sharply and could cross to the downside for a take profit sell signal. Keep an eye on this.
In this weekly Japanese candlestick chart of CTVA, below, we can see a positive chart picture over the past three years. Prices based around $25 before turning higher. CTVA is trading firmly above the rising 40-week moving average line. The weekly OBV line shows us a long bullish rise to confirm the price gains. The weekly MACD oscillator just crossed to the upside for a new outright buy signal.
In this daily Point and Figure chart of CTVA, below, we can see a potential upside price target in the $89 area. A trade at $64 will refresh the uptrend.
In this weekly Point and Figure chart of CTVA, below, we can see a $90 price target.
Bottom line strategy: Traders who are long CTVA should continue to hold but raise stops to $54 from $49. The $90 area is our price target after $68 and $84.
