• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Intrepid Potash (AMEX:IPI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intrepid Potash (AMEX:IPI) based on the price action in the company's shares. Today's price range of $1.46 and $1.54 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Intrepid Potash may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Intrepid Potash has overhead space with shares priced $1.51, or 67.6% below the average consensus analyst price target of $4.68. The stock should find resistance at its 200-day moving average (MA) of $3.93, as well as support at its 50-day MA of $1.19.

Intrepid Potash share prices have moved between a 52-week high of $13.01 and a 52-week low of $0.65 and are now trading 133% above that low price at $1.51 per share. The 200-day and 50-day moving averages have moved 4.69% lower and 6.45% lower over the past week, respectively.

Intrepid Potash, Inc. mines and markets potash for use as a fertilizer. The Company also markets langbeinite.

SmarTrend recommended that subscribers consider buying shares of Intrepid Potash on April 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.19. Since that recommendation, shares of Intrepid Potash have risen 20.2%. We continue to monitor IPI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle amex:ipi Intrepid Potash

Ticker(s): IPI