Intrepid Potash Inc (IPI): Price Now Near $29.46; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for IPI

Currently, IPI (Get Ratings)’s price is down $-0.35 (-1.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 hour changed directions on IPI; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

IPI ranks 18th in terms of today’s price percentage change out of Non-Metallic and Industrial Metal Mining stocks.

IPI’s Technical Outlook on the Daily Chart

At the moment, IPI’s price is up $0.53 (1.83%) from the day prior. The daily chart shows that IPI has seen 2 straight up days. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Intrepid Potash Inc’s price action over the past 90 days can be seen via the chart below.