As a follow-up to my last post on Potash, the daily chart gives us a close-up of the bear flag referenced.
Even after a steep decline, with this type of anemic bounce effort another leg lower must be taken seriously. I would look at Potash as a short idea below $29.
If you are looking to play a bounce/gap-fill above, then $31.33 is your upside trigger.
Overall, with those now-declining longer-term moving averages above price, this is an unhealthy stock prone to random gaps for the foreseeable further with downside risk.
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