IVC.AX closes within prior day's range after lackluster session

Invocare Limited (IVC.AX) Technical Analysis Report for Sep 14, 2018

Highlights

IVC.AX finds buyers at key support level
IVC.AX ends the day on a bullish note closing near the high of the day
IVC.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

IVC.AX ended the week -1.19% lower at 12.50 after gaining A$0.06 (0.48%) today on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for IVC.AX

Volatility

Friday's trading range was A$0.16 (1.28%), that's far below last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 12.34 during the day, the share bounced off the key support level at 12.36. The failure to close below the support might increase that levels importance as support going forward.

Trend

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

Order Flow

Buying could accelerate should prices move above the nearby swing high at 12.64 where further buy stops might get triggered. Further selling could move prices lower should the market test August's close-by low at 12.30.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Invocare Limited

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