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Jan 16, 2019 9:32 AM

IP Approaching Resistance, Potential Drop!  Short

International Paper CompanyNYSE

Description

IP is approaching our first resistance at 49.59 (horizontal pullback resistance, 50%, 38.2% fiboancci retracement) where a strong drop might occur below this level pushing price to our major support at 37.78 (horizontal swing low support).
Stochastic 21,5,3) is also approaching resistance where we might see a corresponding drop in price.
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