The Potash Corporation of Saskatchewan Inc. (POT), also referred to as PotashCorp, is a Canadian corporation based in Saskatoon, Saskatchewan. The company is the world's largest potash producer and the third largest producers of nitrogen and phosphate, three primary crop nutrients used to produce fertilizer. At the end of 2011, the company controlled twenty percent of the world's potash production capacity, two percent of nitrogen production capacity and five percent of phosphate supply. The company is part-owner of Canpotex, which manages all potash exporting from Saskatchewan. It also has a joint-venture with Sinochem named Sinofert. In late 2013, it was 60%-owned by institutional shareholders. In 2007, the CEO, William Doyle was by far the highest earning CEO in Canada, earning over $320 million.
POT big action today, spiking higher to the top of the recent range. Stock halted, news pending! TSX Symbol: POT (all issues) Reason: Pending Company Contact
Symbol: POT Listed: TSX, NYSE SASKATOON, SK, Aug. 30, 2016 /PRNewswire/ -Potash Corporation of Saskatchewan Inc. (PotashCorp) (TSX: POT) (NYSE: POT) today confirmed that it is in preliminary discussions with Agrium Inc. (TSX: AGU) (NYSE: AGU) regarding a potential merger of equals.
That's a pretty clear resistance line there, and to me it looks like you could draw in an ascending support line as well that will form a wedge. That's where I'd be trying to get in for the breakout above resistance. Actually, I stole your picture and drew in the support line I referenced above. Looks like a nice play to me if we can get a dip to that support line and try to ride it through a few months from now when the wedge meets and the breakout happens.
Yeah there is definitely a possibility that the breakout doesn't happen for months. I do like how it has rebounded and retested resistance after a sell-off on the Earnings Report. Since I currently have some capital available in my long term trading account, I'm hoping it breaks out now instead of months down the road lol.
Lol apparently I wasn't paying attention either. Potash merged with Agrium to become NTR. It was finalized today. Still waiting with baited breath to see if my LEAP options expire worthless or not. I will probably jump ship ASAP since it will be starting fresh and won't have the same chart if I am following along right.
