PPR - Potash, Inc. (POT) Subtle Pocket Pivot along 10-dma

Published : February 10 2011 at 17:46 ET

Potash, Inc. (POT) flashed a pocket pivot buy point today, albeit a subtle one, as it came up off of its 10-dma. Yesterday the stock traded enough volume for a pocket pivot volume signature, but the stock stalled a bit as we see on the daily chart below. Today, however, the stock was able to close at a higher-high for a clear continuation pocket pivot buy point. Objectively, if you own shares of POT lower, this could be an opportune add spot, while an aggressive trader might take an initial position here with the idea of keeping a close stop and selling guide at or around the 10-dma at 181.36.

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