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Bearish Moving Average Cross by IntercontinentalExchange (ICE)

By Nick Russo

Today, shares of IntercontinentalExchange (NYSE:ICE) have crossed bearishly below their 10-day moving average of $64.41 on a volume of 556K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

IntercontinentalExchange share prices have moved between a 52-week high of $287.02 and a 52-week low of $53.27 and are now trading 21% above that low price at $64.27 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of IntercontinentalExchange on October 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $268.39. Since that call, shares of IntercontinentalExchange have fallen 76.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses IntercontinentalExchange

Ticker(s): ICE