ITRK.L closes higher for the 2nd day in a row

Intertek (ITRK.L) Technical Analysis Report for Jul 13, 2018

Highlights

ITRK.L closes higher for the 2nd day in a row
ITRK.L pushes through previous session high
ITRK.L rises to highest close since June 18th
ITRK.L ends the day indecisive

TQ Sentiment

Report Sentiment:
25% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, ITRK.L ended the week 2.42% higher at 5762.00 after gaining £58.00 (1.02%) today. Today's closing price of 5762.00 marks the highest close since June 18th. Closing above Thursday's high at 5722.00, the market confirms its breakout through the previous session's high having traded £82.00 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ITRK.L

Volatility

Friday's trading range was £74.00 (1.29%), that's slightly below last trading month's daily average range of £89.80. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Trend

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

Order Flow

With prices trading close to this year's high at 5870.00, upside momentum could speed up should the share be able to break out to new highs for the year.

Conclusion

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 Intertek

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