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IHS Markit Technical Outlook: A Decisive Move Is Likely

By AAATrade LTDStock MarketsSep 29, 2021 11:17AM ET
www.investing.com/analysis/ihs-markit-technical-outlook-a-decisive-move-is-likely-200603456
IHS Markit Technical Outlook: A Decisive Move Is Likely
By AAATrade LTD   |  Sep 29, 2021 11:17AM ET
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IHS Markit (NYSE:INFO) has been trading in a channel for the past month. $117 has acted as support, while $127 has been the resistance. Yesterday, the stock price broke down and hovered around the $116 levels.

Yesterday, IHS Markit came out with their third-quarter earnings results. They exceeded Wall Street's earnings expectations.

However, the intraday price reaction was negative from the open, falling from $122 to $115, where a weak bounce made sure it closed at $116.

Today we could expect a rise towards its previous trading range, breaking the resistance at $117 and moving towards the $119 level.

If it fails to hold above the current price range of $116, it will likely fall below the $115 support level.

IHS Markit technical analysis chart.
IHS Markit technical analysis chart.

IHS Markit Technical Outlook: A Decisive Move Is Likely
 

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IHS Markit Technical Outlook: A Decisive Move Is Likely

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