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SmarTrend Watching for Potential Rebound in Shares of Intl Paper Co After 5.54% Loss

By James Quinn

Intl Paper Co (NYSE:IP) traded in a range yesterday that spanned from a low of $44.01 to a high of $44.56. Yesterday, the shares fell 5.5%, which took the trading range below the 3-day low of $46.91 on volume of 4.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Intl Paper Co has traded in a range of $37.55 to $59.57 and is now at $44.47, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Intl Paper Co and will alert subscribers who have IP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders intl paper co

Ticker(s): IP