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Watch for Intl Paper Co to Potentially Pullback After Gaining 1.15% Yesterday

By Shiri Gupta

Intl Paper Co (NYSE:IP) traded in a range yesterday that spanned from a low of $52.62 to a high of $53.28. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $52.45 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Intl Paper Co on June 15th, 2018 by issuing a Downtrend alert when the shares were trading at $55.66. Since that call, shares of Intl Paper Co have fallen 5.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Intl Paper Co share prices have moved between a 52-week high of $66.94 and a 52-week low of $50.00 and are now trading 6% above that low price at $53.02 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders intl paper co

Ticker(s): IP