
Intrepid Potash (IPI) is a name I've been stalking... for years. And it finally looks ready.

The company has three primary revenue sources-- agricultural (65%), industrial (25%) and oilfield services (10%).
The big one is ag-- they sell potash and fertilizer to farms. Back in 2022 the name absolutely skyrocketed higher as the Russo-Ukranian war kicked off.
Since then it's been a slog back to the downside. There has been a floor put in place with the stock with two major points of control (POCs) were built out.
If you zoom in, you can see the key technical development in the stock:

It's holding the volume shelf support level, and it is making a higher low after one more nasty push to $21 per share. The stock has also reclaimed the 200 moving average and a new uptrend could emerge from this name.
If the dollar continues to stay weak, if inflation is stickier than we expect, if we still need fertilizer to grow crops... then this is a good cyclical bet to make while everyone's still trying to chase large cap tech stocks higher.
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