Potash Booked a New High

Published on Monday, 23 August 2010 12:34 Written by Christopher Lynn

New York, August 23rd (TradersHuddle.com) - Shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) booked a new 52 week high today by trading above $149.87, traders are definitely monitoring Potash's price action to see if this move attracts further buying into the stock.

Potash Corporation of Saskatchewan Inc. (NYSE:POT) produces potash, phosphate, and nitrogen for the agricultural and industrial industries worldwide. The Company operates in Canada, Chile, the United States, Brazil, and Trinidad.

Potash is currently trading 1.26% versus its previous trading session close, and it has calculated support and resistance at $106.56 and $116.49 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.08% from its previous trading close, which means that Potash stock is outperforming the overall market.