These Fertilizer Stocks Smell Like Blooming Roses
- Posted by Greg Harmon
- on July 21st, 2011
Fertilizer Stocks have been having a good run with many of them breaking out. But three Intrepid Potash (ticker: $IPI), Monsanto (ticker: $MON) and Mosaic (ticker: $MOS) are at that edge now in some interesting patterns. Let’s take a look.
Intrepid Potash, $IPI
Intrepid Potash, $IPI, has been in a rising trend since late May. Notice on the chart above that the rising trendline resistance is complemented by the rising trend in the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicator EMA’s. Now it is above the rising 200 day Simple Moving Average (SMA) and testing the that resistance. If it can get through it then it has resistance at 35 and then 36.20 before a run to 39. If not the tend is still up and it can be bought on a pullback that holds above 31.
Monsanto, $MON, is peeking above resistance from February 2010, February this year and recently at 75.67. If it can move and hold above the resistance then it has a measured move to 83. The RSI is moving higher and the MACD avoided a cross with a kiss Thursday. All of the SMA are sloping up in support of an uptrend as well.
The Mosaic, $MOS, has recently moved higher off of a low near 58.80 and is breaking the resistance of the green dotted trend line which is also the neckline of an Inverted Head and Shoulders pattern. The target for the pattern is at least 83.40 which coincides with the high from April. Along the way it may find resistance at 73.10 and 77.70. The rising RSI and growing MACD support more upside, but eh shorter SMA’s crossing lower through the 200 day SMA suggest a stop at 69.20 would be prudent.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Bloomin’ Brands Stock is Sprouting Back Higher
- Premium Earnings 1-26-15
- Top Trade Ideas for the Week January 26, 2015: Bonus Idea
- Top Trade Ideas for the Week of January 26, 2015: The Rest
- Top Trade Ideas for the Week of January 26, 2015: The Rest Premium
- Top Trade Ideas for the Week of January 26, 2015: The Best
- SPY Trends and Influencers January 24, 2015
- Macro Week in Review/Preview January 23, 2015
- Premium Earnings 1-23-15
- The Longer Outlook in ….. The Nikkei Average