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

IPH Limited (IPH.AX) Technical Analysis Report for Sep 14, 2018

Highlights

IPH.AX finds buyers at key support level
IPH.AX closes lower for the 2nd day in a row
IPH.AX breaks below previous session low
IPH.AX falls to lowest close since September 4th

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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.

Daily chart for IPH.AX

Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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Latest Report:

IPH.AX ends the day indecisive

Sep 18, 2018
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