Here’s the level to watch on $IBKR – September 5, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to look at Interactive Brokers ( NASDAQ: IBKR ).
Now, IBKR ( NASDAQ: IBKR ) is showing some pretty interesting relative strength here considering the S&P 500 ( INDEXSP: .INX ) and the QQQs ( NASDAQ: QQQ ) are pretty weak. We see IBKR ( NASDAQ: IBKR ) in and around its 8-day exponential period moving average. And we see some pretty clear resistance right up here at around 130.00, just under 130.00.
The 129.00 -130.00 region right here has been tested over and over and over again. It hasn’t been able to get above, so I definitely think that is a level we should keep an eye on here on Interactive Brokers ( NASDAQ: IBKR ). I’m going to set an alert on my software and look for a strong move through that zone, coming on volume.
You could also keep an eye on this stock, for it to find support around the 21-day exponential period moving average. Or that 50-day moving average right there if I do see this continue to consolidate. It tested that level here in late August. It wouldn’t be out of the realm of possibility, especially if we continue to see Market volatility for the 50-day or the 21-day to get tested.
That could give you a bit of an early entry to get a start in this stock, and then look for that move above 130.00, coming on volume. Definitely keep an eye on Interactive Brokers ( NASDAQ: IBKR ). It’s on my watch list tonight and I will be talking about it tonight with our members.
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