IPH.AX closes higher for the 2nd day in a row

IPH Limited (IPH.AX) Technical Analysis Report for Jul 13, 2018

Highlights

IPH.AX unable to break through key resistance level
IPH.AX closes higher for the 2nd day in a row
IPH.AX pushes through previous session high
IPH.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving higher for the 2nd day in a row, IPH.AX finished the week 8.41% higher at 4.90 after gaining A$0.03 (0.62%) today. Closing above Thursday's high at 4.89, the share confirms its breakout through the previous session's high having traded A$0.08 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for IPH.AX

Volatility

Friday's trading range was A$0.11 (2.26%), that's below last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 4.93, the stock closed below it after spiking as high as 4.97 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.

Conclusion

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

Market Conditions for IPH Limited

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