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Iconix Brand Gro Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Iconix Brand Gro (NASDAQ:ICON) traded at a new 52-week low today of $0.45. This new low was reached on below average trading volume as 160,000 shares traded hands, while the average 30-day volume is approximately 1.2 million shares.

Potential upside of 48.0% exists for Iconix Brand Gro, based on a current level of $0.47 and analysts' average consensus price target of $0.70. Iconix Brand Gro shares should first meet resistance at the 50-day moving average (MA) of $0.63 and find additional resistance at the 200-day MA of $1.21.

Iconix Brand Group, Inc. manages brands. The Company licenses its brand names to retailers and manufacturers throughout the world.

Over the past year, Iconix Brand Grohas traded in a range of $0.45 to $10.80 and are now at $0.47. Over the last five market days, the 200-day moving average (MA) has gone down 7.1% while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Iconix Brand Gro on March 21st, 2018 by issuing a Downtrend alert when the shares were trading at $1.16. Since that call, shares of Iconix Brand Gro have fallen 57.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows iconix brand gro

Ticker(s): ICON