INFO runs into sellers around 49.00 for the third day in a row


IHS Markit Ltd. (INFO) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
INFO runs into sellers around 49.00 for the third day in a row
INFO closes below its opening price unable to hold early session gains
INFO unable to break through key resistance level
INFO rises to highest close since March 20th
INFO closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

INFO finished Monday at 48.79 gaining $0.27 (0.56%) on low volume. Today's closing price of 48.79 marks the highest close since March 20th. Trading $0.18 higher after the open, IHS Markit was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for INFO
Volatility

Monday's trading range was $0.49 (1.0%), that's far below last trading month's daily average range of $1.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 48.91, the share closed below it after spiking as high as 49.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. The market ran into sellers again today around 49.00 for the third trading day in a row after having found sellers at 48.88 in the previous session and at 48.88 two days ago.

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 50.00, upside momentum could speed up should the stock 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 bearish.

Market Conditions for IHS Markit Ltd.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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