International Paper (IP) has had some positive news come out today where intraday it caused the stock price to spike suddenly.
But the magic isn’t in the intraday action but rather in the potential breakout on the daily chart that has my attention for the past few days.
Currently it is finding solid support off of the 10-day moving average and looking to break out above the highs of the previous six days. If that happens, then you could very well have a nice runner on your hands going forward.
Here’s the trade setup:
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