IGO.AX pushes through 50-day moving average


Independence Group (IGO.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
IGO.AX dominated by bulls lifting the market higher throughout the day
IGO.AX finds buyers at key support level
IGO.AX pushes through 50-day moving average
IGO.AX ends the day on a bullish note closing near the high of the day
IGO.AX pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

IGO.AX finished Thursday at 5.10 gaining A$0.13 (2.62%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 5.07, the share confirms its breakout through the prior session's high having traded A$0.05 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for IGO.AX
Volatility

Thursday's trading range was A$0.12 (2.4%), that's slightly below last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 5.00 during the day, the stock bounced off the key support level at 5.01. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 5.16.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 50-day moving average at 5.02 today for the first time since June 1st.

Conclusion

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

Market Conditions for Independence Group
ConditionForecastDirectionWinAvgWorstBestEvents
Southern Doji TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Doji TQ Pro Members Only
Bearish Bounce off SMA 100 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Independence Group traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 536.1919.91 3.86%
NKY 22,555.43276.95 1.24%
HSI 29,696.17228.02 0.77%
BTCUSD 6,737.8430.35 0.45%
DXY 94.7300.270 0.29%
EURUSD 1.1592-0.0031 -0.27%
GOLD 1,277.0-3.6 -0.28%
NDX 7,228.04-23.37 -0.32%
FTSE 7,603.85-27.45 -0.36%
SPX 2,762.57-11.30 -0.41%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.01 -0.47
-0.48%
ACN 10 day candlestick chart for ACN163.31 0.43
0.26%
ADBE 10 day candlestick chart for ADBE251.74 -3.95
-1.54%
AAP 10 day candlestick chart for AAP138.30 0.06
0.04%
AES 10 day candlestick chart for AES13.08 0.01
0.08%
AET 10 day candlestick chart for AET189.28 2.33
1.25%
AFL 10 day candlestick chart for AFL45.00 -0.17
-0.38%
AMG 10 day candlestick chart for AMG154.00 1.00
0.65%
A 10 day candlestick chart for A63.52 -1.45
-2.23%
ABT 10 day candlestick chart for ABT62.34 -0.48
-0.76%