TradeGATEHub

IP approaching resistance, potential drop!

Short
NYSE:IP   International Paper Company
IP is approaching our first resistance at 49.59 (horiozntal overlap resistance, 38.2%, 50% fibonacci retracement) where a strong drop might occur below this level to our first support at 37.78 (horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance where we might be seeing a corresponding drop in price.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.