INFO breaks below previous session low


IHS Markit Ltd. (INFO) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
INFO runs into sellers around 51.81 for the third day in a row
INFO closes lower for the 4th day in a row
INFO breaks below previous session low
INFO falls to lowest close since May 9th
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, INFO ended Thursday at 51.33 losing $0.30 (-0.58%) on low volume. Today's closing price of 51.33 marks the lowest close since May 9th. Closing below Wednesday's low at 51.37, the stock confirms its breakout through the previous session's low having traded $0.30 below it intraday.

Daily chart for INFO
Volatility

Thursday's trading range was $0.74 (1.43%), that's slightly below last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar. Even with a strong opening the market closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

The share ran into sellers again today around 51.81 for the third trading day in a row after having found sellers at 51.77 in the previous session and at 51.92 two days ago.

Trend

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

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for IHS Markit Ltd.
Condition Forecast Direction Win Avg Worst Best Events
Close to Swing High TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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