IHG.L pushes through previous session high
InterContinental Hotels Group (IHG.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (IHG.L as at Jul 13, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.