INGR slumps, loses $11.31 (-10.21%) within a single day
Ingredion Incorporated (INGR) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, INGR finished the week -11.07% lower at 99.46 after tanking $11.31 (-10.21%) today on high volume. This is the biggest single day loss since Inception. Today's closing price of 99.46 marks the lowest close since February 16, 2016. Trading $3.64 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 110.62, Ingredion Inc confirms its breakout through the previous session's low having traded $12.09 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (INGR as at Jul 13, 2018):
Friday's trading range was $6.45 (6.36%), that's far above last trading month's daily average range of $2.08. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.