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CF Industries Stock Is Poised to Change Direction

CF Industries Stock Is Poised to Change Direction

In mid-April of this year CF finally managed to close above the downtrend line as well as the $44.50 price level that had been functioning as resistance for the previous four months. Also of note is the move occurring with a sizable increase in trading volume that suggested demand was overtaking supply. Late May saw the stock tests its low in the $40.00 area, which was followed by a break above $44.50 resistance, again on higher trading volume.