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


Infineon Technologies AG (IFX.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
IFX.DE runs into sellers around 21.91 for the third day in a row
IFX.DE breaks below 200-day moving average
IFX.DE closes below its opening price unable to hold early session gains
IFX.DE finds buyers at key support level
IFX.DE fails to close above 20-day moving average
TQ Sentiment
Report Sentiment: 45% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, IFX.DE finished Monday at 21.60 edging lower €0.02 (-0.09%) on low volume. Trading €0.21 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for IFX.DE
Volatility

Monday's trading range was €0.35 (1.61%), that's below last trading month's daily average range of €0.51. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

After trading as low as 21.56 during the day, the market bounced off the key support level at 21.57. The failure to close below the support might increase that levels importance as support going forward. The stock ran into sellers again today around 21.91 for the third trading day in a row after having found sellers at 21.92 in the previous session and at 21.84 two days ago. After spiking up to 21.91 during the day, Infineon found resistance at the 20-day moving average at 21.89.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. IFX.DE broke below the 200-day moving average at 21.61 today for the first time since April 3rd.

Order Flow

Buying could speed up should prices move above the nearby swing high at 21.92 where further buy stops might get triggered. Selling could accelerate should prices move below the close-by swing low at 21.05 where further sell stops might 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
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