IFL.AX climbs to highest close since May 21st

IOOF Holdings Limited (IFL.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


IFL.AX dominated by bulls lifting the market higher throughout the day
IFL.AX closes higher for the 2nd day in a row
IFL.AX runs into sellers again around 9.35
IFL.AX rises to highest close since May 21st
IFL.AX closes within previous day's range after lackluster session


Moving higher for the 2nd day in a row, IFL.AX finished the week 1.41% higher at 9.32 after gaining A$0.09 (0.98%) today. Today's closing price of 9.32 marks the highest close since May 21st. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily Candlestick Chart (IFL.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for IOOF Holdings Limited (IFL.AX) as at Jul 13, 2018

Friday's trading range was A$0.10 (1.08%), that's far below last trading month's daily average range of A$0.15. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Prices are trading close to a key support level at 9.22. After having been unable to move above 9.33 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 9.35.

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Buying could speed up should prices move above the nearby swing high at 9.35 where further buy stops might get triggered.

Market Conditions for IFL.AX as at Jul 13, 2018

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