IFF unable to break through key resistance level

Internationa Flavors & Fragrances Inc. (IFF) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


IFF unable to break through key resistance level
IFF closes higher for the 2nd day in a row
IFF pushes through previous session high
IFF stuck within tight trading range


Moving higher for the 2nd day in a row, IFF finished Thursday at 125.07 gaining $1.01 (0.81%). Closing above Wednesday's high at 125.00, the stock confirms its breakout through the previous session's high having traded $0.76 above it intraday.

Daily Candlestick Chart (IFF as at May 17, 2018):

Daily technical analysis candlestick chart for Internationa Flavors & Fragrances Inc. (IFF) as at May 17, 2018

Thursday's trading range was $1.84 (1.48%), that's below last trading month's daily average range of $3.20. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 123.19 and 125.96 which it has been in now for the last three days.

Unable to break through the key technical resistance level at 125.34, the market closed below it after spiking as high as 125.76 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

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

Selling could speed up should prices move below the nearby swing low at 123.19 where further sell stops might get triggered.

Market Conditions for IFF as at May 17, 2018

Loading Market Conditions for IFF (Internationa Flavors & Fragrances Inc.)...
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