IFX.DE breaks key support level
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.
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.
Breaking below the key support level at 22.16 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. The share broke below the 20-day moving average at 22.53 today for the first time since August 1st.
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
|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|
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