IAG.AX pushes through previous session high

Insurance Australia Group Ltd (IAG.AX) Technical Analysis Report for Jul 13, 2018

Highlights

IAG.AX closes higher for the 2nd day in a row
IAG.AX pushes through previous session high
IAG.AX ends the day indecisive

TQ Sentiment

Report Sentiment: 33% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, IAG.AX ended the week -1.33% lower at 8.17 after gaining A$0.06 (0.74%) today. Closing above Thursday's high at 8.13, the stock confirms its breakout through the previous session's high having traded A$0.07 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for IAG.AX

Volatility

Friday's trading range was A$0.07 (0.86%), that's below last trading month's daily average range of A$0.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Trend

While Insurance Australia is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Further selling could move prices lower should the market test June's close-by low at 7.94.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Insurance Australia Group Ltd

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