Intrepid Potash (IPI) fell to support in July, firmed for a few days and then surged above first resistance with good volume. Support stems from the March-April lows, and now the July low. The indicator window shows MACD moving above its signal line the last two days. This breakout is valid as long as the stock holds 14.75.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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