Interactive Brokers (IBKR): a new upmove occurs

Day trader looking at trading screens
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

Related tags: Equities

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