Bearish Moving Average Cross by International Paper (IP)
Today, shares of International Paper (NYSE:IP) have crossed bearishly below their 10-day moving average of $41.65 on a volume of 520K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, International Paper share prices have been bracketed by a low of $32.50 and a high of $54.05 and are now at $41.54, 28% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.6%.
SmarTrend is monitoring the recent change of momentum in International Paper. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of International Paper in search of a potential trend change.
Keywords: moving crosses International Paper