+8% Trade on POT
by Mike Paulenoff
April 23, 2016 • 2:06 AM EDT
In his chart analysis of Potash (POT) on April 13, Mike noted that POT appears to be in the early stages of a rally that will challenge the March 7 high at 19.38 into key trendline and EMA resistance at 20.20/90 in the upcoming days.
On top of the strong techincal trend off the January 26 low of 14.64, he saw that POT could benefit from stronger energy, a softer USD, and recovering commodity prices in general.
So Mike added POT as a swing trade set-up on April 13 at 16.61 and added to the position on April 15 at 16.32.
He exited 1/2 the position at 17.51 on April 19 and the second 1/2 at 18.05 on April 21, for a gain of 8% on the average entry and exit prices.
See chart illustrating the technical pattern.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
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