IFL.AX ends the day on a bullish note closing near the high of the day
IFL.AX ended Thursday at 9.00 gaining A$0.08 (0.9%) on low volume. Today's closing price of 9.00 marks the highest close since May 29th. Closing above Wednesday's high at 8.94, IOOF Holdings confirms its breakout through the prior session's high having traded A$0.09 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was A$0.18 (2.03%), that's slightly below last trading month's daily average range of A$0.18. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After having been unable to move lower than 8.85 in the previous session, the share found buyers again around the same price level today at 8.85. After spiking up to 9.03 during the day, the stock found resistance at the 20-day moving average at 9.01.
Although the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bullish sentiment for the next trading day.
Market Conditions for IOOF Holdings Limited
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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