IVZ closes lower for the 2nd day in a row


Invesco Ltd. (IVZ) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
IVZ breaks key support level
IVZ closes lower for the 2nd day in a row
IVZ breaks below previous session low
IVZ falls to lowest close since June 28, 2016
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for IVZ
Volatility

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.

Support/Resistance

Breaking below the key support level at 24.87 today, it is now likely to act as resistance going forward.

Trend

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

Conclusion

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

Market Conditions for Invesco Ltd.
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
52 Week Low TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Close near low of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

IVZ breaks below previous session low

Aug 15, 2018
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