IVZ dominated by bulls lifting the market higher throughout the day

Invesco Ltd. (IVZ) Technical Analysis Report for Sep 14, 2018

Highlights

IVZ pushes through key resistance level
IVZ dominated by bulls lifting the market higher throughout the day
IVZ closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 42% Bullish
Technical Forecast:

Overview

IVZ finished the week -1.25% lower at 23.75 after gaining $0.39 (1.67%) today on high volume. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for IVZ

Volatility

Friday's trading range was $0.36 (1.53%), that's below last trading month's daily average range of $0.46. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Breaking through the key resistance level at 23.74 today, it is now likely to act as support going forward.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 24.25 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 23.25 where further sell stops could get activated.

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 Invesco Ltd.

Loading Market Conditions for $IVZ (Invesco Ltd.)...
Latest Report:

IVZ soars 2.58% closing $0.61 higher

Sep 19, 2018
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