IFX.DE breaks key support level


Infineon Technologies AG (IFX.DE) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
IFX.DE tanks -2.79% on high volume
IFX.DE breaks key support level
IFX.DE breaks below 20-day moving average
IFX.DE closes lower for the 2nd day in a row
IFX.DE breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, IFX.DE finished the week -1.26% lower at 21.92 after tanking €0.63 (-2.79%) today on high volume. This is the biggest single day loss in over a week. Today's closing price of 21.92 marks the lowest close since July 12th. Closing below Thursday's low at 22.38, the stock confirms its breakout through the prior session's low having traded €0.73 below it intraday.

Daily chart for IFX.DE
Volatility

Friday's trading range was €0.73 (3.27%), that's above last trading month's daily average range of €0.54. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Breaking below the key support level at 22.16 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share broke below the 20-day moving average at 22.53 today for the first time since August 1st.

Conclusion

Even though both sentiments are bearish for the next trading day, our quantitative statistics are only slightly bearish while the classical technical analysis metrics show a bearish sentiment.

Market Conditions for Infineon Technologies AG
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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