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Bearish Moving Average Cross by Intercontinental (ICE)

By David Diaz

Intercontinental (NYSE:ICE) crossed under its 10-day moving average of $80.69 on a volume of 324K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Intercontinental has traded in a range of $69.33 to $82.65 and is now at $80.35, 16% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Intercontinental on April 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.79. Since that recommendation, shares of Intercontinental have risen 5.4%. We continue to monitor ICE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses intercontinental

Ticker(s): ICE