IHG.L pushes through previous session high

InterContinental Hotels Group (IHG.L) Technical Analysis Report for Jul 13, 2018

Highlights

IHG.L unable to break through key resistance level
IHG.L closes higher for the 7th day in a row
IHG.L pushes through previous session high
IHG.L rises to highest close since June 18th
IHG.L ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 7th day in a row, IHG.L finished the week 4.88% higher at 4880.00 after gaining £62.00 (1.29%) today. Today's closing price of 4880.00 marks the highest close since June 18th. Closing above Thursday's high at 4824.00, the market confirms its breakout through the previous session's high having traded £89.00 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for IHG.L

Volatility

Friday's trading range was £75.00 (1.54%), that's slightly below last trading month's daily average range of £75.45. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 4883.00, the share closed below it after spiking as high as 4913.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

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 InterContinental Hotels Group

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