Potash Lower With High Volume

Published on Tuesday, 24 August 2010 11:42 Written by TradersHuddle Staff

New York, August 24th (TradersHuddle.com) - Unusual high volume detected on shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT), early in the trading session. Potash is currently trading lower by 0.15%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

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 has already traded 0.875 times its 3-month average volume, and has calculated support and resistance at $106.56 and $116.49 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -1.03% from its previous trading close, which means that Potash stock is outperforming the overall market.