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


Infineon Technologies AG (IFX.DE) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (IFX.DE as at Jul 13, 2018):

Daily technical analysis candlestick chart for Infineon Technologies AG (IFX.DE) as at Jul 13, 2018

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.

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.

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.

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


Market Conditions for IFX.DE as at Jul 13, 2018

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