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


Iluka Resources (ILU.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
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
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Harami Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ILU.AX finds buyers again around 11.26

Jul 20, 2018
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