III.L surges 1.46% closing £13.40 higher

3i (III.L) Technical Analysis Report for Sep 14, 2018

Highlights

III.L rallies 1.46% closing £13.40 higher
III.L pushes through key resistance level
III.L closes above its opening price after recovering from early selling pressure
III.L pushes through 200-day moving average
III.L finds support at 200-day moving average

TQ Sentiment

Report Sentiment: 70% Bullish
Technical Forecast:

Overview

Moving higher for the 4th day in a row, III.L finished the week 1.88% higher at 929.80 after surging £13.40 (1.46%) today. This is the biggest single day gain in over a month. Today's closing price of 929.80 marks the highest close since August 14th. Trading up to £5.00 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 919.60, 3i confirms its breakout through the previous session's high having traded £10.40 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 III.L

Volatility

Friday's trading range was £11.80 (1.28%), that's slightly below last trading month's daily average range of £13.50. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Breaking through the key resistance level at 924.60 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 938.80. After trading as low as 918.20 during the day, the share found support at the 200-day moving average at 923.06.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 200-day moving average at 923.06 today for the first time since August 16th.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for 3i

Condition Forecast Direction Win Rate Exit Day Events
5 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Bounce off SMA 50 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...
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III.L finds buyers at key support level

Sep 17, 2018
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