IQV runs into sellers again around 98.34


IQVIA Holdings Inc. (IQV) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
IQV finds buyers at key support level
IQV closes higher for the 3rd day in a row
IQV runs into sellers again around 98.34
IQV rises to highest close since March 29th
IQV closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, IQV finished Monday at 98.04 gaining $0.33 (0.34%). Today's closing price of 98.04 marks the highest close since March 29th. Closing within the prior day's range, prices failed to decisively move beyond 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 IQV
Volatility

Monday's trading range was $0.92 (0.94%), that's far below last trading month's daily average range of $2.08. Things look different on a weekly scale, where volatility is 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

After trading as low as 97.42 during the day, the stock bounced off the key support level at 97.82. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move above 98.50 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 98.34.

Trend

While IQVIA Holdings is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might speed up should prices move above the nearby swing high at 98.50 where further buy stops could get activated. As prices are trading close to April's high at 99.57, upside momentum might accelerate should the share 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 IQVIA Holdings Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
9 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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