Just out of interest for the chartists out there, sometimes the share price close is a furphy on what is really going on re market demand. For example, IHL closed today at 16.5.
Here are the actual trades today. Notice that the VWAP (Volume - weighted average price) is over 17. The total volume was 4,754,097 of which 106,248 (most of it at the closing auction) was at 16.5. That is a tiny 2.2% of volume. So 97.8% of stock was trading above the close.
Where I am going with this is that the market close is at the mercy of traders, accumulators, position closers etc...In today's case the action was clearly at 17.
Make what you will of that last crossing trade, but perhaps something to be mindful of when making TA Chart assessments.
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