Bearish stocks to watch tomorrow - Potash and Mosaic Company
Chart courtesy of www.stockcharts.com ( click to enlarge )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 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.
That's all Folks. See you tomorrow !!!
AC
That's all Folks. See you tomorrow !!!
AC
