IQV unable to break through key resistance level
Moving lower for the 3rd day in a row, IQV finished the week -1.62% lower at 121.15 after losing $0.55 (-0.45%) today on low volume. Today's closing price of 121.15 marks the lowest close since July 30th. Closing below Thursday's low at 121.56, IQVIA Holdings confirms its breakout through the previous session's low having traded $1.14 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.61 (1.33%), that's slightly below last trading month's daily average range of $2.24. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.
Unable to break through the key technical resistance level at 121.74, the market closed below it after spiking as high as 122.03 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 125.35, upside momentum could accelerate should the stock be able to break out to new highs for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for IQVIA Holdings Inc.
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Spinning Top||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
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