International Paper Company (IP) stock declined during its latest intraday trading, amid the dominance of the main downward trend, with a sharply declining sub-trend controlling price action in the short term, alongside continued negative pressure as the stock trades below its 50-day simple moving average. In the background, early signs of a bearish crossover are emerging on the Relative Strength Index after reaching heavily overbought levels, suggesting the beginning of a negative divergence.

Therefore, we expect the stock price to decline in upcoming trading sessions as long as the resistance level at $38.00 holds, targeting the key support level at $33.60.

Todays price forecast: Bearish