IG Group Hldgs Forecast and Stock Analysis
Technical IGG.L stock analysis for April 18, 2019.
IG Group Hldgs fell by -0.53% in the last day from £529.00 to £526.20 and has now fallen 3 days in a row. The price has fallen in 5 of the last 10 days and is down by -2.7% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -121 064 shares and in total 746 065 shares bought and sold for approximately £392.58 million.
Close price at the end of the last trading day (Thursday, 18th Apr 2019) of the IGG.L stock was £526.20. This is 0.53% less than the trading day before Wednesday, 17th Apr 2019.
During day the stock fluctuated 1.49% from a day low at £522.40 to a day high of £530.20.
30 day high of the IGG.L stock price was £582.50 and low was £471.10.
90 day high was £653.00 and low was £471.10.
52 week high for the IG Group Hldgs - £956.50 and low - £471.10.
Trend
IG Group Hldgs lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £531.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.04% during the next 3 months and, with 90% probability hold a price between £376.31 and £425.20 at the end of this period.
Signals
Some negative signals were issued as well, and these may have some influence on the near short-term development. IG Group Hldgs holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at £542.73. On a fall, the stock will find some support from the short-term average at £523.54. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday April 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
IG Group Hldgs finds support from accumulated volume at £517.50.
Risk
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £7.80 (1.49%) between high and low. For the last week, the stock has had a daily average volatility of 3.59%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Overall risk:
Very Low Low Medium High Very High
Evaluation: Sell Candidate
IG Group Hldgs holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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