Fertilizer stocks like this one and MOS are highly cyclical. Fertilizer has taken a beating lately, if things get uglier this stock could get cut in half. If things go okay it could easily double and outperform others in the group like the bigger MOS. IPI could also get bought out any time.
After consolidating for the past 4 months, it is look closer to the breakup soon, hopefully with solid volme to carry it towards 68-70 eventually. Whether it can reach there remains to be seen. Scale out along the way and manage the rest of the position with trailing stops
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This...
Potash is a material stock that is currently sailing un North quite smoothly.
Left hand side graph shows a confirmed ascending triangle on the daily with a possible total gain of 77% for a price target of 67.05$.
Top right graph shows a confirmed cup'n handle on the weekly chart with a total gain of 82% for a price target of 68.60$.
Both graphs are showing...
IPI Potach, another ressource stock on an uptick ramp.
Interestingly, the daily chart shows an ascending triangle, and the Weekly shows a double bottom both of which makes my think this is going up.
Ascending triangle, confirmed. A bit late but still avbout 40% left in the tank.
If confirmed:
Price target = 67.05$
Stay humble, have fun, make money!
IPI in Wyckoff Distribution, get ready for Markdown phase!
Don't like Wyckoff? Consider downside targets on traditional head and shoulders break measures to same area.
PSY = preliminary supply
BC = buying climax
AR = automatic reaction
ST = secondary test
SOW - sign of weakness
UT = upthrust
LPSY = last point of supply
Source for labels: Stockcharts.com
Intrepid Potash Inc produces and sells potash and potash byproducts in three main product segments: Potash, Trio, and Oilfield solutions. The Potash segment produces and sells potash to the agricultural industry as a fertilizer input, the industrial market as a component of oil and gas drilling fluid, and the animal feed market as a nutrient supplement. The Trio...
One of the only potash producers listed on a US exchange. Has been left for dead for over a decade.
Intrepid Potash $IPI has returned 150% since the day of the election 11/3. I am a buyer on weakness and pullbacks. If the inflation cycle really does heat up over the next few months, $IPI could make a move to $100 in 2021.
IPI has turned the $1.15-$1.20 area to support, bolstered by a 20 EMA/50 EMA cross at the same level. I would be a buyer of any move off the rising 20 EMA. I have to expect higher prices as long as the stock remains above $1.20.
IPI is a good one for a conservative 100% gain in 3 months. Good P/E, consolidation on the 4 hour chart, and Zacks rating upgrade. It is also following a pattern that is present on the weekly chart. It appears that we are at the bottom of a "U" or a "V". IPI is a good one to do some research on.
Members up 12% already.
Posting this now for the public.
Taking the breakout trade, watch for earnings. Also adding on all dips.
Same 10% Hard Stop following the same equity management system.
Setup similar to MOS
- BBands look tight, BBW low
- middle band holding
- nice consolidation
Let's see if we can reach those boxes.
Idea came from @kkernttb
Thanx
