IAG.AX closes higher for the 8th day in a row


Insurance Australia Group Ltd (IAG.AX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
IAG.AX closes higher for the 8th day in a row
IAG.AX ends the day on a bullish note closing near the high of the day
IAG.AX runs into sellers again around 8.41
IAG.AX rises to highest close since Inception
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for IAG.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Conclusion

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

Market Conditions for Insurance Australia Group Ltd
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

IAG.AX breaks key support level

Aug 17, 2018
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