POT has arrived at the "River Jordan" or the "River Styx"
It was posted that " Potash (POT) is breaking out in almost identical fashion to the other 2 commodities mentioned."
Looking at the daily chart one might come to another conclusion. The Gap at the Open [ 97.54 - 100.26 ] could be an "exhaustion gap" as the volume increased to 14.6 million shares from an average of around 6.3 million shares. There exists a 5.29 point Gap Down [106.56 - 101.27] that was partially filled today when the stock price spiked to 104.57 . The Close today at 103.71 is the third point on a line started when the Gap Down was formed. It may represent the lower boundary of a significant "zone" of resistance and the action in the coming sessions will determine what "River" the stock price arrived at today. . If it is able to clear the "zone" then the next major resistance will be between 120 and 160 where several other Gaps exist . The company reports on Thursday and if positive could generate the volume needed to clear the Gap.
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Posted-In: Intraday Update Markets Movers