International Flavors & Fragrances Inc. (IFF) was upgraded to a Buy on Friday by TheStreet's quantitative service. Let's check out the charts and indicators of IFF to see if quantitative analysis and technical analysis come to the same conclusion.
In this daily bar chart of IFF, below, we can see that prices made a steep sell off in August, but IFF has retraced all of the decline. Prices are back above the rising 50-day moving average line and above the bottoming 200-day line. Volume is an important confirming indicator and the On-Balance-Volume (OBV) line has been rising since March.
Notice how little the OBV line declined in August when prices slumped sharply? Notice also how quickly the OBV line resumed its advance, telling us that buyers of IFF have been more aggressive pretty much all year. The Moving Average Convergence Divergence (MACD) oscillator turned up above the zero-line this month for an outright go long signal.