III.L closes within previous day's range after lackluster session

3i (III.L) Technical Analysis Report for Jul 13, 2018

Highlights

III.L closes higher for the 2nd day in a row
III.L runs into sellers again around 914.00
III.L stuck within tight trading range
III.L closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, III.L ended the week 0.4% higher at 907.40 after gaining £1.80 (0.2%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for III.L

Volatility

Friday's trading range was £11.20 (1.23%), that's below last trading month's daily average range of £14.28. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 898.00 and 914.00 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 901.20. After having been unable to move above 912.60 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 914.00.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling might speed up should prices move below the close-by swing low at 898.00 where further sell stops could get triggered.

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 3i

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