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KristofStockHunter
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CEO and founder of Stock-Hunter.net. I started 4 years ago with trading I went to some tough times but once I learned to understand the trading methodology the world changed for me.
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  • Are Basic Materials Coming Into Resistance? $POT 0 comments
    May 9, 2013 11:34 AM | about stocks: POT

    The past few weeks we saw a massive rally in the stock markets; also the basic materials did make a strong push. On the short term, this chart is overbought.

    I want to go over the daily $POT chart we are short term overbought on the daily chart. The resistance will be between $44.00 and $44.80.

    I will look to get a small short position on a pierce of the $44 level, the stop-out on this trade will be any close above the $47.00.

    On a pullback look for the $42.15 as first support.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in POT over the next 72 hours.

    Themes: Raw materials Stocks: POT
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