An under-$10 name in the chemical manufacturing complex that's started to trigger a major breakout trade is Rentech (RTK), which owns and operates a nitrogen fertilizer plant in East Dubuque, Illinois, that manufactures and sells natural gas-based nitrogen fertilizer products within the corn-belt region in the U.S. This stock is off to a monster start in 2012 with shares up 74%.
If you take a look at the chart for Rentech, you'll notice that this stock has been a winning trade for the bulls over the last six months. During that timeframe, shares of Rentech have soared from a low of $1.26 to its recent high of $2.30 a share. During that monster run-up, shares of Rentech have been consistently making higher lows and higher highs, which is bullish technical price action.
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