IPG - Last Move UpLast move up to the top of a major channel.
Plotting price action you can see a rising wedge forming which is a bearish pattern which makes sense to be bearishly rejected at the top of the up channel
Daily chart.
IPG
IPG WCA - Inverted Head and ShouldersCompany: Interpublic Group of Companies Inc.
Ticker: IPG
Exchange: NYSE
Sector: Communication Services
Introduction:
In today's technical analysis, we focus on Interpublic Group of Companies Inc. (IPG), a prominent player in the Communication Services sector, listed on the NYSE. The weekly chart is currently illustrating an interesting Inverted Head and Shoulders pattern, a traditional bottom reversal formation. Since we have analyzed the XLC and a bullish environment favors this sector, we have selected this stock for closer examination.
Inverted Head and Shoulders Pattern:
The Inverted Head and Shoulders pattern, usually observed after a significant downward movement, signals a potential bullish reversal. This pattern is characterized by three troughs, with the middle one being the deepest (the "head") and the two others (the "shoulders") being shorter and roughly equal in depth.
Analysis:
Previously, IPG's chart was showing a clear downtrend. However, we've spotted a promising Inverted Head and Shoulders pattern that has been developing over 651 days. The symmetry between the left and right shoulders is intact, and the price now appears to be consolidating above the horizontal neckline at $39.28.
The price's position above the 200 EMA demonstrates a bullish market environment, suggesting that long setups could be more advantageous at this time. If a breakout above the neckline is confirmed, it could represent a good entry point for a long position.
The potential price target is set at $53.73, indicating an upside of approximately 37% from the level of the neckline.
Conclusion:
IPG's weekly chart reveals an intriguing setup in the form of an Inverted Head and Shoulders pattern, suggesting a possible bullish reversal. However, this is a watchlist candidate and not a direct trading recommendation.
As always, this analysis should be used as part of your comprehensive market research and risk management strategy. Please remember, this is not financial advice and investing always involves risk.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading!
Best regards,
Karim Subhieh
IPG - Similar Curved Patterns IPG has broken out of a similar rounded pattern that was seen earlier in the price evolutions history (~1970's)
Post break out price led a strong bull run
If this repeats we are in for a nice bull run in the next years for IPG, indicated by the rocket emoji
$IPGMarketing company. No comment follow the chart
CHART LEGEND:
white dashed lines = bull/bear takeovers
blue lines = call targets
yellow lines = put targets
red line = danger zone
orange lines = trend lines
green lines = safe zone
any other lines add will be discussed with the ticker
NYSE:IPG
$IPG is on BUY point?!Quick mid-week analysis for $IPG. We can add this stock into our swing trading portfolio.
Fundamental Analysis:
IPG announced earnings per share of $0.86 on revenue of $2.28B. Analysts polled by Investing.com anticipated EPS of $0.8031 on revenue of $2.28B.
As the revenue was in line the price of shares dropped by 10% on earnings day.
However; recently IPG had its target price raised by Morgan Stanley from $27.00 to $28.00 in a report released on Thursday, Benzinga reports.
Technical analysis:
As it is seen that $24 per share acted as Strong Support since January.
Overall analysis:
We can consider buy some shares here as it doesn't want to break down $25.
Company profile:
Interpublic Group of Companies, Inc is an advertising and marketing services company. Its services include consumer advertising, digital marketing, communications planning & media buying, public relations & specialized communications disciplines.
