Interactive Brokers (IBKR): a new upmove occurs

The chart of Interactive Brokers (IBKR) shows a breakout signal, where is the next resistance level?

Trader 2

Interactive Brokers (IBKR), a global online broker, has agreed to purchase a self-directed retail brokerage segment from online custodian Folio Investing. However, the company did not disclose the details.

Recently, the company reported that daily average revenue trade jumped 179% on year to an average of 2.3 million trades per day in November.

From a technical point of view, the stock broke above a consolidation zone and the flag pattern, suggesting the continuation of the bullish trend. Recently, the prices are trading above both rising 20-day and 50-day moving averages. In addition, the stock prices have recorded a new 52-week, suggesting the upside momentum for the prices. Bullish readers could set the support level at $52.80, while resistance levels would be located at $62.50 and $66.80.

Source: GAIN Capital, TradingView

Build your confidence risk free

More from Equities

Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.