Nov. 13 at 1:38 AM
$IP is currently trading at
$38.6, significantly below its 30-day moving average (MA30) of
$44.08 and 50-day moving average (MA50) of
$45.1, indicating a bearish trend. The RSI at 21.81 suggests that the stock is oversold, which may lead to a potential reversal or short-term bounce. However, the overall market context remains weak due to the proximity to the 60-day low of
$35.79.
For a trade plan, consider a short-term bullish position if a reversal occurs. Suggested entry could be around
$39.00, with a stop loss set at
$37.50 to manage risk. Target 1 can be set at
$42.00, near the MA30, and Target 2 at
$44.00, close to the MA50. This plan capitalizes on the potential for a bounce while maintaining a risk-aware approach.
https://privateprofiteers.com
