IQVIA Jumps 3.71% On Bullish Technicals As Volume Surges 25% Above Average

IQVIA (IQV) rose 3.71% to close at $190.69 in the latest session, recovering significantly from the prior day's decline on above-average volume of 1.36 million shares. This analysis examines key technical indicators using the past year's price data.
Candlestick Theory
Recent candlesticks reveal a bullish reversal pattern forming. The September 10th session printed a long-wicked bearish candle testing $183.10 support, followed by a decisive bullish engulfing candle on September 11th that closed near the high of $190.69. This pattern suggests conviction from buyers after defending the $183 support level. Key resistance now lies at the August high of $192.35, with substantial psychological resistance at $200.
Moving Average Theory
The 50-day moving average ($181.50) crossed bullishly above the 200-day MA ($178.80) in early August, confirming a positive long-term trend structure. Current price trades above all three key moving averages (50/100/200-day), with the 50-day providing dynamic support during September’s consolidation. The ascending alignment of averages (50 > 100 > 200) signals sustained bullish momentum.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover emerging above the signal line, with histogram bars turning positive for the first time since early August. Concurrently, the KDJ oscillator (9,3,3) has exited oversold territory (<20) with its %K line (78) crossing above %D (72), suggesting strengthening upside momentum. However, KDJ’s proximity to overbought levels warrants monitoring for potential near-term exhaustion.
Bollinger Bands
September’s consolidation caused significant band contraction (bandwidth at 1-year low), preceding the decisive breakout above the upper band ($188.50) on September 11th. This volatility expansion signals the start of a new trend phase. Price now trades near the upper band, with the middle band ($183.20) acting as primary support. Continued upper-band proximity would indicate strong bullish momentum.
Volume-Price Relationship
The breakout rally occurred on volume 25% above the 30-day average, confirming buyer conviction. Notable accumulation was observed during the July-August upswing, where advancing sessions showed consistently higher volume than declines. The recent recovery from September lows similarly featured higher volume on up-days, validating the sustainability of the rebound.
Relative Strength Index (RSI)
The 14-day RSI (65) approaches overbought territory but remains below the 70 warning threshold. Its steady climb from oversold conditions in June (RSI 30) reflects improving momentum. While not yet overextended, RSI divergence would become a concern if prices make new highs without corresponding strength in the oscillator.
Fibonacci Retracement
Applying Fibonacci to the swing low of $136.41 (June 3rd) and high of $192.35 (August 19th) shows critical levels: The 38.2% retracement at $171.50 provided support in early September, while the 61.8% level at $184.50 now serves as major support. Bulls face resistance at the 78.6% retracement ($188.80), which was breached in the latest session. A decisive close above $190 would open the path toward the 100% extension at $192.35.
Confluence and Divergence Notes
Confluence occurs at $183-185 support, where the 100-day MA, Fibonacci 61.8% retracement, and Bollinger middle band converge – reinforcing this zone’s technical significance. A minor divergence was noted in late August when price achieved higher highs while MACD formed lower highs, foreshadowing September’s pullback. Currently, no significant divergences exist among momentum indicators. The alignment of moving averages, volume confirmation, and Fibonacci breakout suggest bullish dominance, though overbought readings in KDJ and near-70 RSI warrant tactical caution.