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Bullish Moving Average Cross by International Paper (IP)

By Shiri Gupta

Today, shares of International Paper (NYSE:IP) have advanced above their 10-day MA of $48.32 on a volume of 424K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of International Paper have traded between a low of $32.50 and a high of $54.05 and are now at $48.54, which is 49% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 1.59% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of International Paper on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.74. Since that recommendation, shares of International Paper have risen 9.8%. We continue to monitor IP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses International Paper

Ticker(s): IP