Potash Corp. of Saskatchewan (POT) In A Fresh Breakout Area After Posting A New 52 Week High

Investors cheered the move by the management of Potash Corp. of Saskatchewan (NYSE: POT) on Friday morning, after the company shocked the market by raising its Q1 earnings guidance for 2010. The move, an upward revision, came as a surprise for the traders, as Potash Corp. of Saskatchewan (POT) had earlier warned of possible tepid expectations for earnings in 2009.

Potash Corp. of Saskatchewan (POT) started the Friday session with a gap–up opening coupled with strong volumes in the morning session. Potash Corp. of Saskatchewan (POT) has now moved into a fresh breakout area, after forming a new 52 week high on Friday.