Bearish Stocks To Watch Thursday: Potash And Mosaic Company

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Bearish Stocks To Watch Thursday: Potash And Mosaic Company

By Antonio Costa on June 18, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

Potash (POT) - The stock broke down its support today on increased volume and selling pressure making this stock appear that it could easily be sent down to its next support around $90. Looking at the technical chart, the stock looks extremely weak as MACD and KD is pointing downwards. If it breaks down the strong support at $90, there is a chance to move down to the $80 area. The short-term outlook for the stock is bearish.

Chart courtesy of www.stockcharts.com ( click to enlarge )

I recommend a sell in Mosaic (MOS) from a short perspective. It is clearly visible from the chart above that the stock has been moving sideways since last month in a range between $58 and $50 and today broke the channel. I expect the stock to decline to $44 level in the short-term. All the technical indicators are pointing towards a downfall. Investors with a short-term perspective can sell the stock with stop-loss at $48.17.

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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