IOF.AX climbs to highest close since October 21, 2008


Investa Office Fund Stapled Securities (IOF.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
IOF.AX unable to break through key resistance level
IOF.AX closes higher for the 3rd day in a row
IOF.AX rises to highest close since October 21, 2008
IOF.AX closes within previous day's range after lackluster session
IOF.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 14% Bearish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, IOF.AX finished Thursday at 5.15 gaining A$0.01 (0.19%) on high volume. Today's closing price of 5.15 marks the highest close since October 21, 2008. Closing within the prior day's range, prices failed to decisively move beyond the previous 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 IOF.AX
Volatility

Thursday's trading range was A$0.02 (0.39%), that's far below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Unable to break through the key technical resistance level at 5.17, the share closed below it after spiking as high as 5.17 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

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

Order Flow

Buying might accelerate should prices move above the close-by swing high at 5.18 where further buy stops could get triggered.

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 Investa Office Fund Stapled Securities
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Doji TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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