Member @lee1 inquired about POT (Potash Corp) in the trading room & I figured that this one merits a post on the front page for all to see. My reply to lee1:
I really like POT & some of the other agricultural stocks as long-term holds/investments going forward. If I recall correctly, POT maybe have very briefly and/or slightly clipped the suggested stop on the Growth & Income trade posted in 2016 (if so, needs to be updated & removed from the Active category) but I’ve held that one since then in a couple of long-term accounts & plan to tuck it away as long as the charts still look constructive. (end reply)
POT weekly Jan 11th
POT has broken above & successfully back-tested this downtrend line after dancing on key long-term support for most of 2016. A break above the 19.50ish resistance level should clear the way for a longer-term rally up to any or all of these overhead horizontal & downtrend resistance lines on this 10-year weekly chart. Although not an official trade idea at this time, POT is on watch for an entry on another Growth & Income Trade along with some other stocks & commodities in the agricultural industry.