IFL.AX slides to lowest close since April 27, 2017

IOOF Holdings Limited (IFL.AX) Technical Analysis Report for Aug 10, 2018 [1 min read]
IFL.AX breaks key support level
IFL.AX dominated by bears dragging the market lower throughout the day
IFL.AX ends the day on a bearish note closing near the low of the day
IFL.AX breaks below previous session low
IFL.AX falls to lowest close since April 27, 2017
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:

IFL.AX finished the week -2.35% lower at 8.73 after losing A$0.24 (-2.68%) today. Today's closing price of 8.73 marks the lowest close since April 27, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 8.88, IOOF Holdings confirms its breakout through the prior session's low having traded A$0.17 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for IFL.AX

Friday's trading range was A$0.27 (3.01%), that's slightly above last trading month's daily average range of A$0.26. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being above average.


Prices are trading close to a key support level at 8.66. Breaking below the key support level at 8.84 today, it is now likely to act as resistance going forward.


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

Order Flow

Selling might speed up should prices move below the nearby swing low at 8.64 where further sell stops could get activated. With prices trading close to this year's low at 8.61, downside momentum might accelerate should the share break out to new lows for the year.


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

Market Conditions for IOOF Holdings Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Find out what happened when IOOF Holdings Limited traded like this in the past. See the odds for each technical pattern with expected gain and loss.

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