IAG.AX closes higher for the 8th day in a row
Insurance Australia Group Ltd (IAG.AX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 8th day in a row, IAG.AX ended Thursday at 8.40 gaining A$0.02 (0.24%). Today's closing price of 8.40 marks the highest close since Inception. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (IAG.AX as at May 17, 2018):
Thursday's trading range was A$0.05 (0.6%), that's far below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.
After having been unable to move above 8.40 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 8.41.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.