Stock Picks And Trade Ideas For Wednesday - POT, SJI, VLO, CLF

Chart courtesy of stockcharts ( click to enlarge )

Cliffs Natural Resources (CLF) - The stock is facing a period of sideways action while it consolidates the gains booked in the past weeks. The stock will face short to medium term resistance at 30. Once this level is crossed with good volumes, the stock can go to 37.55.

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Valero Energy (VLO) - The stock closed again above the moving averages and is registering a Bullish signal. Let’s see whether the stock can gather enough momentum to break through 21.92. If the Bulls are able to push through this level, there will be another rally towards 23.61.

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South Jersey Industries (SJI) has a Bullish looking stock chart, price broke out from the horizontal resistance mark around 38.68 share Tuesday on a respectable volume. The stock is displaying upside momentum and is poised to move higher from these levels.

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Potash (POT) - The latest chart and sentiment surrounding Potash Corp. shares appear to be hesitant due to the incredible performance of the stock recently. Investors should look for flat trading in the near-term with a possibility of testing lower prices before moving higher. A close below 69.73 ( 50 dma ) could be a bad sign for stock.

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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