Intrepid Potash Inc

IPI remains firmly in a Stage 4 decline, with confirmed lower highs and lower lows driving a bearish medium-term bias. The recent rally into declining EMAs presents a tactical sell opportunity in line with the downtrend, while the long-term uptrend on the 200-DMA persists but is showing stress. Execution should target selling rallies into the 9/21 EMA zone. Oversold conditions and proximity to 200-DMA support are key risks to monitor.

• ↑Gross margin rose 35% YoY to $16.6M on stronger Trio margins and mill reliability.
• ↑Raised FY Potash guidance to 290–300K tons and Trio to 295–305K tons after operational gains.
• ↓Negative earnings yield and weak growth indicators point to profitability concerns.