Published on greenfaucet (http://www.greenfaucet.com)
Potash (POT) Nears Long-Term Breakout Point
By Drew Birenbaum
Created 2009/11/23 - 2:03pm

Over the last 3-5 months, many of the leading fertilizer stocks from the prior bull market have been consolidating and are approaching long term buy-points.

On the four year weekly chart, we can see a long term base that began forming in early June. For the last three weeks, prices have made a run towards intermediate resistance on increasing volume. RSI is also approaching an intermediate breakout point, and ADX appears to be signalling the beginning of a new intermediate uptrend.

 


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Source URL: http://www.greenfaucet.com/technical-analysis/potash-pot-nears-long-term-breakout-point/03028

Links:
[1] http://www.portfoliotilt.com/images/stories/trade-ideas/setups/2009/pot11222009.png