ITRK.L dominated by bulls lifting the market higher throughout the day


Intertek (ITRK.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
ITRK.L dominated by bulls lifting the market higher throughout the day
ITRK.L closes higher for the 2nd day in a row
ITRK.L ends the day on a bullish note closing near the high of the day
ITRK.L pushes through previous session high
ITRK.L rises to highest close since Inception
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ITRK.L ended Thursday at 5830.00 gaining £56.00 (0.97%) on high volume. Today's closing price of 5830.00 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 5802.00, the market confirms its breakout through the prior session's high having traded £44.00 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 ITRK.L
Volatility

Thursday's trading range was £160.00 (2.81%), that's far above last trading month's daily average range of £89.00. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

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, the classical technical analysis metrics are only bullish while our quantitative statistics show a very bullish sentiment.

Market Conditions for Intertek
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ITRK.L breaks below prior session low

Jun 21, 2018
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