IAG breaks key support level


Iamgold Corporation (IAG) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team

Highlights

IAG breaks key support level
IAG closes lower for the 2nd day in a row
IAG ends the day on a bearish note closing near the low of the day
IAG finds buyers again around 3.62
IAG falls to lowest close since May 4, 2017

Overview

Moving lower for the 2nd day in a row, IAG finished the week -4.72% lower at 3.63 after losing $0.07 (-1.89%) today. Today's closing price of 3.63 marks the lowest close since May 4, 2017. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (IAG as at Sep 14, 2018):

Daily technical analysis candlestick chart for Iamgold Corporation (IAG) as at Sep 14, 2018

Friday's trading range was $0.13 (3.5%), that's below last trading month's daily average range of $0.17. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Breaking below the key support level at 3.70 today, it is now likely to act as resistance going forward. After having been unable to move lower than 3.63 in the prior session, the market found buyers again around the same price level today at 3.62.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Selling might accelerate should prices move below the nearby swing low at 3.57 where further sell stops could get triggered. 2,017's low at 3.36 is within reach and we might see further downside momentum should the stock break out beyond.


Market Conditions for IAG as at Sep 14, 2018

Loading Market Conditions for IAG (Iamgold Corporation)...
Latest Report:

IAG ends the day indecisive

Nov 16, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Iamgold Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!