IP gapped up on the open on a positive earnings release and then proceeded to sell off all day. This looks like a technical key reversal. Bearish engulfing pattern on bigger than normal volume which closed outside of the bull flag pattern it had been building. Short interest increased considerably as well. Daily MACD crossed over to bearish.
Earnings report was...
Hey traders, INTERNATIONAL PAPER CO is in a bullish moment, it is on a support slant. We can see on the lower TIMEFRAME a sign of falling, it is looking for liquidity to turn around and start rising again. To seek the last precedent higher, if there is enough liquidity for the large potential buyers to go to the next higher above the decision area.
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IP has consolidated into a fairly clear bull flag heading into the earnings date.
note that the price is now currently above the Point of Control on the Volume Profile.
Key resistance is the horizontal orange line which was the high on April at $37.34. Will need a solid earnigs report to push above this.
If this does happen, expect a sector rotation to flow...
Hey guys
I would say, IP is building out a perfect example of a ReTest Situation. What do you think?
Stop Buy: 36,90$
Stop Loss: 36$
Take Profit: 42,20$ - 44,80$
Much fun with that trade!
Leave a comment!
Share Price is in a crucial area. Note the horizontal orange line from the April high. SP is currently underneath this and coiling. But support is holding for now and may be consolidating. Larger market dynamics are in play as well.
There was a brief touch above July 16th which did not hold. Now that is our major resistance zone. A breach of that take the SP...
Uptrend in IP is going well. Bottom of the key resistance zone was breached yesterday and price is now consolidating. Showing a bull flag on the hourly chart.
Note the difference between now and early July where the trend touched resistance, did not breach it and was rejected.
RSI on the daily is only at 60 (approx) with lots of room to run. MACD on the daily...
Share price has now closed above the long term down ward trend line off the peak price in 2018.
Its approaching a key resistance zone which did not breach in early June. A crossing of this zone (two dashed red lines) should lead the price higher to the $40 range.
Combined with upcoming earnings and a continued sector rotation out of Tech and into industrial...
Have had IP on my radar for a few months. I know what you're thinking. "Why a paper company when tech has been blazing and most industrial stocks have languished. Three reasons."
1. PMI reports. Over the past three months Paper products have been one of the only industries showing growth in the ISM PMI report. Meaning they're having an uptick in orders. IP itself...
Bought the Oct 37.5 Calls for a long bias entry. I trade options the same way i day trade except different time frames. Two charts, I trade the smaller in the direction of the higher trend only. Among that there are other rules that filter into the option itself, but the technical approach stays the same. This is just my trade idea with my own money and not...
Entry level $47.88 = Target price $53.53 = Stop loss $46.55
Stock on the verge of breaking out from congestion phase.
Bullish golden cross.
P/E ratio 13.78
Yield 4.43%
3.26 short interest.
International Paper Co. engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers,...
Over the 2 weeks, we've been spotting red flags in IP as buyers started to struggle to prop it up, expecting the 44 support to break down soon. Sure enough, we are seeing a clean move downwards the past trading session and I am expecting to see more sellers piling in seeing a target price at the 40 psychological support where some short covering can happen
IP is approaching our first resistance where we might see a corresponding drop in price to our first support.
Stochastic is also approaching resistance as well.
