IRE.AX finds buyers at key support level


Iress Limited (IRE.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
IRE.AX rallies 8.0% on high volume
IRE.AX dominated by bulls lifting the market higher throughout the day
IRE.AX finds buyers at key support level
IRE.AX ends the day on a bullish note closing near the high of the day
IRE.AX pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

IRE.AX finished Thursday at 12.02 surging A$0.89 (8.0%) on high volume. This is the biggest single day gain in over a year. Today's closing price of 12.02 marks the highest close since January 25th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 11.29, Iress Limited confirms its breakout through the prior session's high having traded A$0.87 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for IRE.AX
Volatility

Thursday's trading range was A$1.00 (8.96%), that's far above last trading month's daily average range of A$0.26. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.

Support/Resistance

After trading as low as 11.16 during the day, the market bounced off the key support level at 11.16. The failure to close below the support might increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for Iress Limited
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
Doji TQ Pro Members Only
Close near low of period TQ Pro Members Only
Shooting Star TQ Pro Members Only
Northern Doji TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

IRE.AX finds buyers again around 11.85

Jun 18, 2018
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