If that break up wasn't there it looks like a good Head and Shoulders, so does the break nullify the pattern? There's certainly a temptation to buy in, potash prices are up, the company has slashed operating costs and it has valuable water rights in New Mexico, water which shale frackers will pay for. If there's to be a break upwards now looks like the time,...
2018 will be great year for IPI .
Management doing excellent job by giving a company life .Strength on balance sheet , lower debt. Water sales number will continue to be strong for the upcoming quarters.
Target $7 at the end of 2018.
**opinions are my own , trade at your own risk**
This isn't a trade you have to go rushing into as you should get a chance to buy lower, but please keep this on a watchlist. After a large run up, $IPI has been consolidating in this range for a few months and may be ready to break out above. A move above $4.25 can get fast to the upside.
A post I did some time ago playing out I believe just how it should:...
Let me give you some facts on this one:
performance week: 5.21 %
performance month: 34.07 %
performance year: 146.34 %
performance ytd: 45.67 %
Nice trend, eh?
So... lets wait if price gets this resistance, and then jump on it!
If you are more conservative, wait for a pullback after the break of that resistance, and THEN open your long position.