Trade Alert - Intrepid Potash High Volume

Published on Thursday, 14 June 2012 11:38 Written by TradersHuddle Wire

New York, June 14th (TradersHuddle.com) - Unusual high volume detected on shares of Intrepid Potash, Inc. (NYSE:IPI) early in the trading session. The pace in volume of Intrepid Potash points to a break above average, with sellers in control, as the stock is 1.4% lower.

Intrepid Potash, Inc. (NYSE:IPI) mines and markets potash for use as a fertilizer. It also offers by-products, including salt, magnesium chloride, and metal recovery salts. Intrepid serves agricultural, industrial, and feed markets. The company is based in Denver, Colorado.

Intrepid Potash has already traded 0.864 times its 3-month average volume and has calculated support and resistance at $18.42 and $20.86 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.81% from its previous trading close, which means that Intrepid Potash stock is underperforming the overall market.