Some Quick and Dirty Charts from $MOS and $IPI – March 10, 2021

by DAN MOS IPI 
This is Scott with your Chart of the day. I want to do some quick and dirty charts from some potash companies. With the rise of the price of commodities, we are also seeing the market look favorable upon companies that will benefit from the rise and those prices, namely stocks connected to agriculture.

As you can see with Mosaic ( NYSE: MOS ), this stock has been acting relatively well. It has been able to hold up above its 21-day exponential period moving average and today had a really nice move off of the AEMA coming on higher than average volume.

Some of us at Stock Market Mentor are in this stock and I personally will be looking to add some shares if we can get a break above this high here on volume. I want to see a move above 33.23 coming on higher than average volume for me to add a little bit to my current position.

If you are a short-term trader I would definitely watch this stock above that level because it will be making 52-week highs. And if I zoom out here you can see it’s hitting levels it hasn’t been at since 2019. So I really like the relative strength that this stock has been flexing despite the recent market volatility.

Another one to look at is Intrepid Potash ( NYSE: IPI ). Intrepid ( NYSE: IPI ), the same thing. I like the relative strength, it’s been able to hold above its 21-day exponential period moving average and it really has all of the right ingredients. We have a rising 50-day moving average, nice tight Bollinger Bands.

You can see how the price is squeezing here and we have a nice pickup in volume today and it’s really close to the highs again. And in a market where there is a lot of volatility, this is what we want. We want to see stocks close to their highs and doing it on good volume when the market is chopping around. With Intrepid ( NYSE: IPI ) here, I want to see a move right above there so I am going to set an alert right around 34.16 and watch for a move through that price coming on volume.

So there are some quick and dirty charts for you to add to your Watch List. Watch them tomorrow and see how it plays out.

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