ILU.AX closes higher for the 2nd day in a row

Iluka Resources (ILU.AX) Technical Analysis Report for Jul 13, 2018

Highlights

ILU.AX pushes through key resistance level
ILU.AX closes higher for the 2nd day in a row
ILU.AX pushes through previous session high
ILU.AX rises to highest close since June 7th

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, ILU.AX ended the week 5.24% higher at 11.84 after gaining A$0.14 (1.2%) today. Today's closing price of 11.84 marks the highest close since June 7th. Closing above Thursday's high at 11.71, the market confirms its breakout through the previous session's high having traded A$0.28 above it intraday.

Daily chart for ILU.AX

Volatility

Friday's trading range was A$0.29 (2.47%), that's slightly below last trading month's daily average range of A$0.32. 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

Breaking through the key resistance level at 11.77 today, it is now likely to act as support going forward.

Trend

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

Order Flow

With prices trading close to this year's high at 12.20, upside momentum might speed up should Iluka Resources be able to break out to new highs for the year.

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 Iluka Resources

Loading Market Conditions for $ILU.AX (Iluka Resources)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Find out more
Top Market Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!