IPH.AX closes lower for the 2nd day in a row
IPH Limited (IPH.AX) Technical Analysis Report for Sep 14, 2018
Moving lower for the 2nd day in a row, IPH.AX finished the week -1.24% lower at 5.59 after losing A$0.04 (-0.71%) today. Today's closing price of 5.59 marks the lowest close since September 4th. Closing below Thursday's low at 5.61, the stock confirms its breakout through the previous session's low having traded A$0.08 below it intraday.
Friday's trading range was A$0.10 (1.78%), that's below last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.
After trading as low as 5.53 during the day, the market bounced off the key support level at 5.56. The failure to close below the support could increase that levels importance as support going forward.
Though IPH Limited is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
Market Conditions for IPH Limited
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Bounce off SMA 20||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
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