• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Potash (NYSE:POT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Potash (NYSE:POT) based on the price action in the company's shares. Today's price range of $17.80 and $18.06 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Potash may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potash has overhead space with shares priced $17.93, or 25.1% below the average consensus analyst price target of $23.93. The stock should hit resistance at its 200-day moving average (MA) of $19.95, as well as support at its 50-day MA of $17.47.

In the past 52 weeks, shares of Potash have traded between a low of $14.64 and a high of $33.52 and are now at $17.93, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.3%.

Potash Corporation of Saskatchewan Inc. produces potash, phosphate, and nitrogen to the agricultural and industrial industries worldwide. The Company conducts operations in Canada, Chile, the United States, Brazil, and Trinidad.

SmarTrend is monitoring the recent change of momentum in Potash. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Potash in search of a potential trend change.

Keywords: bearish inside day candle Potash

Ticker(s): POT