Nov. 15 at 10:17 AM
$IPAR is currently trading at
$87.43, below both the 30-day moving average (MA30) of
$92.76 and the 50-day moving average (MA50) of
$96.85, indicating a bearish trend. The RSI at 25.97 suggests that the stock is oversold, which may lead to a potential reversal, but caution is warranted due to the prevailing downtrend.
Given the 60-day high of
$117.22 and low of
$86.09, the stock is near the lower end of this range, which could provide a support level. A suggested entry point could be around
$87.50, with a stop loss set at
$86.00 to manage risk.
For targets, consider
$90.00 as the first target, aligning with the MA30, and
$93.00 as a second target, near the MA50. This trade plan allows for a potential rebound while managing downside risk effectively.
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