IAG.L closes below its opening price unable to hold early session gains
International Airlines Group (IAG.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
IAG.L finished the week -0.18% lower at 668.20 after gaining £2.20 (0.33%) today on low volume. Trading £4.00 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (IAG.L as at Jul 13, 2018):
Friday's trading range was £6.20 (0.93%), that's far below last trading month's daily average range of £13.03. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 678.20 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 662.40 where further sell stops could get triggered. As prices are trading close to July's low at 653.20, downside momentum might accelerate should the share mark new lows for the month.