But let's round out the analysis with a look at the charts and indicators.
In this daily bar chart of IP, below, we can see that prices have been in a downtrend for most of the past 12 months. We can see lower highs starting back in June and lower lows to December.
While IP has not made a new low since December we can't say it is in a new uptrend and we cannot say that the rebound from December is all that impressive. Prices have been trading sideways between the declining 200-day moving average line and the slightly rising 50-day line.
The level of trading volume has been declining since October and the daily On-Balance-Volume (OBV) line has been in a downtrend from September - sellers of IP are still more aggressive than buyers.
The Moving Average Convergence Divergence (MACD) oscillator has been in a take profits sell mode from the beginning of February and is now close to the zero line, a possible future sell signal.
In this weekly bar chart of IP, below, we can see that prices have been weak since early 2018. IP is below the declining 40-week moving average line.
The weekly OBV line has been in a decline as long as prices have been making lower lows.
The MACD oscillator has crossed to the upside for a cover shorts signal but a buy signal does not look imminent.
In this Point and Figure chart of IP, below, there is still an upside target of $50 being indicated, but a dip to $44.83 is likely to turn the chart bearish.
Insert chart 3 here
Bottom line strategy: It looks like the rally in IP from late December has run out of steam. I would look for IP to slowly drift back down to the $42-$40 area in the weeks ahead.