INF.L closes higher for the 2nd day in a row


Informa (INF.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
Traders officially love to sell INF.L against 834.60 level
INF.L closes above its opening price after recovering from early selling pressure
INF.L finds buyers at key support level
INF.L closes higher for the 2nd day in a row
INF.L ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, INF.L finished Thursday at 834.60 gaining £14.80 (1.81%) on high volume. Today's closing price of 834.60 marks the highest close since Inception. Trading up to £16.80 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 Wednesday's high at 833.80, the market confirms its breakout through the prior session's high having traded £0.80 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 INF.L
Volatility

Thursday's trading range was £31.20 (3.8%), that's far above last trading month's daily average range of £15.62. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

Support/Resistance

After trading as low as 803.40 during the day, the share bounced off the key support level at 813.60. The failure to close below the support could increase that levels importance as support going forward. Informa was sold again around 834.60 after having seen highs at 833.80, 834.40 and 832.60 in the last three trading sessions. Obviously there is something going on at that level.

Trend

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

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Informa
Condition Forecast Direction Win Avg Worst Best Events
Bearish Spinning Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

INF.L ends the day indecisive

Aug 14, 2018
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