IPG fails to close above 20-day moving average

Interpublic Group (IPG) Technical Analysis Report for Sep 14, 2018

Highlights

IPG closes below its opening price unable to hold early session gains
IPG fails to close above 20-day moving average
IPG finds buyers again around 22.64
IPG closes within previous day's range after lackluster session
IPG ends the day indecisive

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

IPG ended the week -0.18% lower at 22.71 after edging higher $0.02 (0.09%) today on low volume. Trading $0.10 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 within the prior day's range, prices failed to decisively move past 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 IPG

Volatility

Friday's trading range was $0.22 (0.97%), that's far below last trading month's daily average range of $0.34. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below 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

Prices are trading close to a key support level at 22.61. Prices are trading close to the key resistance level at 22.89. After having been unable to move lower than 22.63 in the previous session, the stock found buyers again around the same price level today at 22.64. After spiking up to 22.86 during the day, the share found resistance at the 20-day moving average at 22.85.

Trend

Interpublic Group shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 22.88 where further buy stops might get triggered. As prices are trading close to September's high at 23.05, upside momentum could speed up should IPG mark new highs for the month.

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 Interpublic Group

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