IFX.DE fails to close above 20-day moving average


Infineon Technologies AG (IFX.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
IFX.DE pushes through key resistance level
IFX.DE fails to close above 20-day moving average
IFX.DE closes higher for the 2nd day in a row
IFX.DE pushes through previous session high
IFX.DE ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, IFX.DE ended the week 1.91% higher at 21.92 after gaining €0.17 (0.78%) today. Closing above Thursday's high at 21.81, the share confirms its breakout through the prior session's high having traded €0.47 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for IFX.DE
Volatility

Friday's trading range was €0.41 (1.87%), that's below last trading month's daily average range of €0.56. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 21.88 today, it is now likely to act as support going forward. After spiking up to 22.28 during the day, the market found resistance at the 20-day moving average at 22.26.

Trend

While Infineon 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.

Order Flow

Selling might speed up should prices move below the nearby swing low at 21.41 where further sell stops could get activated.

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 Infineon Technologies AG
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 200 TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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