IEL.AX rises to highest close since July 30th


Ardent Leisure Group Ordinary/Units FP Stapled Sec (IEL.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
IEL.AX closes below its opening price unable to hold early session gains
IEL.AX rises to highest close since July 30th
IEL.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

IEL.AX ended the week 1.64% higher at 9.94 after gaining A$0.08 (0.81%) today on low volume. Today's closing price of 9.94 marks the highest close since July 30th. Trading A$0.12 higher after the open, the market 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.

Daily chart for IEL.AX
Volatility

Friday's trading range was A$0.27 (2.68%), that's slightly above last trading month's daily average range of A$0.24. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 10.00.

Trend

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

Conclusion

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

Market Conditions for Ardent Leisure Group Ordinary/Units FP Stapled Sec
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Hanging Man TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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