Recent months have seen a shift toward cyclical stocks like International Paper, which has some potentially bullish chart patterns.
First, IP spiked to $53.39 on January 6. That was the highest level since September 2018. Such a new high can indicate a stock is under accumulation – especially when it occurs so early in a calendar year.
Second, the materials...
Should have grabbed this 12/4 when the alert hit.
It may be a bit of a gamble now.
Not holding options more than a week or so but buying in a manner that gives me room to be wrong (feb. expiration)
I love this stock for repeat gains.
TICKER : IP
DATE : 17/11/2020
PRICE : $50,15
TRANSACTION : $160 480 000,00
AVERAGE TRANSACTION : $9 615 067,51
MAX : $160 480 000,00
% OF MAX : 100,00%
DIFFERENCE FROM AVERAGE : 1669,05%
IP broke out early Sept above the crucial resistance at $37.35 (April high) Also once it broke through $39 resitance line and shot straight into the low mid $40's where it became over bought
The Long term down trend line (white line) did not offer resitance or support on either trip through it.
There was some horizontal support at $40.21 which was the June...
Hey traders, INTERNATIONAL PAPER CO is in a bullish push with large buying volume and buyers rejecting TIMEFRAME 5 1 min. In the 1 min we see a bullish continuity, it has broken the line that tells its story and it is also the 50% retracement. In this case there is a high probability of reaching the last precedent above.
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IP finally broke out above the heavy horizontal resistance of $37.35 which was the April high. The move actually happened as the rest of the market sold off dramatically demonstrating IP is somewhat of a non correlated asset right now.
The $37.35 line has now been tested and confirmed as support once on the daily chart. I sold my calls too early last week and...
Yesterday closed above support on the downtrend line, first time that happened acted as Resistance on the daily. This morning had a failed bearish breakdown below support which quickly got bought up and went all the way to new resistance overhead. I got a fill on IP 101620 40 C at .40 and sold later for .65 so handy profit there for a 1 day trade. Have reset that...
Should always take a look at the end of the month on the assets you follow and chart out the monthly chart.
RSI at a crossroads. The RSI is now at the resistance from the downtrend started in 2018. This is a likely a leading indicator to the future price which has not reached the trend line on the PA
The more local red down trend line from the peak in 2019 also...
Every now and then I find it useful to erase everthing and rechart it with a fresh eye. Some of the recent movement weren't fitting into my chart.
Have now connected the recent lows and highs back , creating more of an ascending wedge.
Clearly the bottom support is well defined., although there have been multiple times where the price didn't challenge the...
As expected IP not only fell to bottom to support (see my last post) but quickly rebounded on solid volume. Wasn't expecting a 5% day but it was on a sector rotation day.
Note that the Bull pennant formed now has a clear separation from the red line downtrend. Still has closed below the key horizontal resistance at 37.35 which was the April high.
Note as well...
IP DAily/hrly/15 exciting demand zone 33.95-33.3
Pro:
1. 3 exciting candles in lower time (60min)
2. 2 exciting candle in location (daily candle)
3. origin of Daily candle up move
con:
1. no location zone basing candle(daily)
2. price is drastically coming down
IP continues along in it's symmetrical wedge with continued signs of breakout attempts to the upside. There have been a couple sporadic attempts at new lows and highs which were bought up/sold off quickly.
Important lines in the chart:
1. Solid white lines: The long term down trend from 2018. The line at $40 will be the strongest resistance once (if) it...
Its been a crazy few weeks for IP.
Earnings came out and were good. Immediately we saw a sell the news event, heavy institutional selling drove the stock down to support.
The within the last 4 trading days we saw a gap down (which was heavily bought up) and a gap up which was sold off.
Note the volume on the gap down vs the gap up. The buying after the gap...
The past few days has thrown me off. I delete the whole chart and started over.
In a symmetrical wedge since the fall off in March and subsequent recovery. This is typically a continuation pattern.
In the context of the bigger picture. The price action of the last few months just looks like a bear flag off a much larger down channel.
Time for me to readjust...
