Bull flag prior to earnings
IP has consolidated into a fairly clear bull flag heading into the earnings date.
note that the price is now currently above the Point of Control on the Volume Profile.
Key resistance is the horizontal orange line which was the high on April at $37.34. Will need a solid earnigs report to push above this.
If this does happen, expect a sector rotation to flow into the stock price sending it up relatively quickly up to the $40 range where it will have strong resistance from the two year down trend channel.
note that the price is now currently above the Point of Control on the Volume Profile.
Key resistance is the horizontal orange line which was the high on April at $37.34. Will need a solid earnigs report to push above this.
If this does happen, expect a sector rotation to flow into the stock price sending it up relatively quickly up to the $40 range where it will have strong resistance from the two year down trend channel.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.