An Examination of International Paper Company: $IP

$IP has two features I would like to point out.

  1. It has retraced to the 50-61.8% range of its advance from the COVID low.
  2. Locally, it is forming an inverse head and shoulder’s pattern.

If this is a 1-2, we may see a further advance. A reasonable target for such an advance is the measured move of the inverse, noted on the chart.

IP


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