Technical analysis from Independence (IGO.AX.AX, ASX:IGO.AX) on the Australian Stock Exchange (ASX). Download the latest price data & trading signals

Independence
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Momentum continues to rise for Independence signalling an uptrend will persist
Momentum /
Momentum continues to rise for Independence signalling an uptrend will persist

[BULLISH]: Independence currently has positive momentum of 0.36. This means the current price is greater than the price 5 days ago and therefore gaining momentum. Currently, the return on momentum is -2%. The largest upward momentum rally for the last 3 months is 5 days producing a return of 5.2%%.

Range for IGO has not surpassed the range of the previous trading session
Price Range /
Range for IGO has not surpassed the range of the previous trading session

IGO: Price Range Current Signal -> (1) 19 Feb: BEARISH (2) 16 Feb: BEARISH (3) 15 Feb: BULLISH

MACD /
Independence: MACD oscillator (0.023000)

[BULLISH]: Independence currently has positive MACD of 0.023000. This means the signal line is greater than the MACD line signalling a bullish movement. Currently, the return on MACD is -2%.

Range Tod Vs Range Yest /
Independence: Sellers are still becoming less eager.

[WEAK BULLISH]: Independencesellers are becoming less eager. There has been 2 consecutive days of range increase for IGO reducing strength to an uptrend in the first timeframe. The biggest price range this month has been $0.61 & the greatest daily price range this year has been $0.77. The price range ratio this week versus the quarterly price range is 0.2x & the price range ratio this month versus the year to date price range is 0.8x.

Closing Price /
[Bearish]: Lower close has formed for IGO by -2 % during the last trading session

[BEARISH]: Independence current downtrend in the first timeframe. Currently, the Close is $4.9.

On Balance Volume /
Market conditions are indicating OBV distribution is current for IGO

[BEARISH]: Independence current price has highlighted recent distribution. Currently, the OBV is -7.67837e+006.

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Daily Volume Index /
IGO: Current trading activity signals DVI distribution is active

[BEARISH]: Independence current distribution has given weakness to the share price and the continuation of bearish trading conditions.

Independence currently has negative volume rate of change for -41
Volume Rate of Change /
Independence currently has negative volume rate of change for -41

IGO: VROC Recent Trading -> (1) 19 Feb: -41 (2) 16 Feb: -18 (3) 15 Feb: -26

[Bullish]: Trend following indicator for IGO highlights upward price direction is likely
Exponential Moving Average /
[Bullish]: Trend following indicator for IGO highlights upward price direction is likely

[BULLISH]: Independence currently has a confirmed uptrend. Recent trading has caused the EMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on EMA5 is -2%.

Percentage Price /
Independence currently has positive PPO 0.400

IGO: PPO Recent Trading -> (1) 19 Feb: 0.356 (2) 16 Feb: 0.240 (3) 15 Feb: -0.126

Simple Moving Average /
IGO: Price continues to move above the SMA(5) @$4.88

[BEARISH]: Independence currently has a confirmed downtrend. Recent trading has caused the SMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SMA5 is -2%.

Elder Ray Index /
[Bull Power]: ERI has increased for Independence during the last trading session

[BULLISH]: IndependenceElder Ray Index is signalling a Bullish movementERI is 0.153 indicating bull power. Prices are being driven above the consensus of value for IGO during the last trading session [Buying Pressure]

Independence has failed to achieve a lower low of $4.88 (-1.6 %)
Low Price /
Independence has failed to achieve a lower low of $4.88 (-1.6 %)

[BULLISH]: Independence current downtrend in the first timeframe. Currently, the Low is $4.88 (-1.6 %).

Sine Weighted Moving Average(5) signal continues for Independence indicating upward price movement is likely
Sine Weighted Moving Average /
Sine Weighted Moving Average(5) signal continues for Independence indicating upward price movement is likely

[BULLISH]: Independence currently has a confirmed uptrend. Recent trading has caused the SWMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is -2%.

Ease of Movement /
Price dipped from high volume trading for Independence during last trading session

[BEARISH]: Independence current price have moved downwards on high volume. Currently, the Ease of Movement is -0.504

Pivot Points /
Limit order for a short position has been identified for Independence [Bearish]

Independence has broken the first support point ($4.859) [Bearish]. Look for a short limit order entry near this point. Exit price for IGO should be set @$4.817 & short position stoploss for Independence should be set between $5.027 & $5.069

High Price /
Independence: Daily high performance is -1.7 % [Downtrend]

[BEARISH]: Independence current downtrend in the first timeframe. Currently, the HIGH is -1.7 %.

IGO: Volume Moving Average Convergence Divergence [Bearish]
MACD Volume /
IGO: Volume Moving Average Convergence Divergence [Bearish]

[BEARISH]: Independence currently has negative Volume MACD of -229247. This means the signal line is less than the Volume MACD line signalling a bearish movement.

Independence is no longer overbought with the Stochastic Oscillator @67.2
Stochastic Oscillator /
Independence is no longer overbought with the Stochastic Oscillator @67.2

IGO: Stochastic Oscillator Signal -> (1) 19 Feb: BEARISH CROSSUNDER (2) 16 Feb: BULLISH CROSSOVER (3) 15 Feb: NEUTRAL

Volume for Independence continues to lose momentum @-8.4)
Percentage Volume /
Volume for Independence continues to lose momentum @-8.4)

[BEARISH]: Independence currently has negative PVO -8.4%. The recent volume is losing momentum through a fall on the short term exponential moving average. Currently, the return on PVO is 2.8%.

Fibonacci Extensions /
Independence has broken above the 161.8% extension level ($4.35) [Bearish]

Independence: The current Fibonacci Extension levels are: (23.61%) $4.64: (38.2%) $4.75: (50%) $4.85: (61.8%) $4.94The current support levels are: (78.6%) $5.07: (100%) $5.23: (138.2%) $5.52: (161.8%) $5.71: (261.8%) $6.48: (423.61%) $7.72

Weighted Moving Average /
Independence is in a short term downtrend with the closing price @$4.9

[BEARISH]: Independence currently has a confirmed downtrend. Recent trading has caused the WMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is -2%.

Elders Force Index /
Bearish conditions for IGO are likely to continue based on EFI (-53230)

[BEARISH]: Independence current price has highlighted recent selling pressure. Currently, the Elders Force Index is -53230.

Pivot Reversal /
A short term Pivot Reversal has formed with Independence

[BEARISH]: A short term Pivot Reversal has formed with Independence which confirms the presence of a bearish bar reversal. Over the last 12 months there have been 23 occurrences of this bar reversal giving a signal probability of 9%.

Independence: Daily volume performance is 0 [Uptrend]
Volume /
Independence: Daily volume performance is 0 [Uptrend]

[BULLISH]: Independence current volume uptrend in the first timeframe. Volume for IGO is1.72008e+006 (0).

Rate of change(14) is decreasing for Independence
Rate of Change /
Rate of change(14) is decreasing for Independence

[BEARISH]: Independence currently has negative rate of change of -3.4%. This means the current price is less than the price 14 days ago and therefore losing momentum & is a leading indicator of price movement in the downward direction

Woodie Pivot Point /
Limit order for a short position has been identified for Independence [Bearish]

Independence has broken the first Woodie support point ($4.847) [Bearish]. Look for a short limit order entry near this point. Exit price for IGO should be set @$4.811 & short position stoploss for Independence should be set at $5.021

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