IVZ closes lower for the 2nd day in a row
Invesco Ltd (IVZ) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, IVZ finished the week -1.79% lower at 24.70 after losing $0.79 (-3.1%) today. Today's closing price of 24.70 marks the lowest close since June 28, 2016. Closing below Thursday's low at 25.40, the share confirms its breakout through the previous session's low having traded $1.09 below it intraday.
Daily Candlestick Chart (IVZ as at Aug 10, 2018):
Friday's trading range was $0.88 (3.49%), that's above last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Breaking below the key support level at 24.87 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.