IPL is under Algo Engine buy conditions following the higher low formation at $3.20.
The stock price has been sold off following concerns around the impact of the Queensland floods. In particular, the short term closure of the Phosphate Hill plant and the impact to rail transport.
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With the stock now trading 10x FY20 earnings we see much of the downside risks, already priced in.
Accumulate IPL between $3.00 and $3.20
