After a sharp decline the last five weeks, Potash (POT) hit support last week and bounced this week. A nice three candlestick reversal formed Thursday-Friday-Monday, but the stock fell back on Tuesday-Wednesday. Upside follow through would affirm support and trigger a short-term breakout.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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