Taking everything into account, IGIC scores 7 out of 10 in our technical rating. Although IGIC is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
IGIC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 24.07. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.97, a Stop Loss order could be placed below this zone.
More info and screens
21.07
We found 3 important support areas.
- A support zone ranging from 22.95 to 23.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @21.84 from a trend line in the weekly time frame.
- A support zone ranging from 21.28 to 21.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 24.07 to 24.42. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @26.77 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for IGIC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for IGIC is up. |
| ChartMill Relative Strength | 32.78 | NEUTRAL | IGIC is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of IGIC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IGIC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of IGIC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 63.12 | NEUTRAL | The RSI value for IGIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests IGIC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 74.56 | NEUTRAL | The Stochastics value for IGIC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.02 | MEDIUM VOLATILITY | The ATR as a percentage value for IGIC suggests some volalility. |
| Average Directional Index/ADX (14) | 28.58 | POSITIVE | The high ADX value value for IGIC suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 24.43 | 23.30 | 1.13 (4.63%) | 21.62% |
| An entry @24.43. This is a Buy Stop order right above the resistance zone. | An exit @23.30. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.13 points, which is 4.63%. | When investing 21.62% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
24.04
+0.02 (+0.08%)
INTERNATIONAL GENERAL INSURA / IGIC FAQ
Can you provide the ChartMill technical rating for INTERNATIONAL GENERAL INSURA?
ChartMill assigns a technical rating of 7 / 10 to IGIC.
Can you provide the trend direction for INTERNATIONAL GENERAL INSURA?
The current trend direction for INTERNATIONAL GENERAL INSURA (IGIC) is Bullish.
What is the RSI signal for IGIC stock?
INTERNATIONAL GENERAL INSURA (IGIC) has an RSI value of 63.1164. This indicates that the stock is currently neutral.
Can you provide the MACD signal for INTERNATIONAL GENERAL INSURA?
The MACD indicator for INTERNATIONAL GENERAL INSURA (IGIC) has a value of 0.0367434, indicating a bearish trend.
What is the short term momentum for INTERNATIONAL GENERAL INSURA (IGIC) stock?
The short term momentum for INTERNATIONAL GENERAL INSURA (IGIC) is positive.