Potash Corp. (POT) is trading higher this morning by $2.25 to $171.19. The stock gapped up earlier to a fresh new 2-year high of $178.71 in reaction to this morning’s earnings (EPS of $1.77 vs $1.65 consensus). The next important support/resistance area for Potash stock will be around the $140, $200 area, respectively. While chart is only mimicking the co.’s solid fundamentals, daytraders should always remember the time-honored principle: buy the dips, not the rallies.
At last check, POT was up $4.18, or $2.42%, to $172.74. The median Wall Street price target on the stock is $175.00 with a high target of $196.00.