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Iconix Brand Gro: New 52-Week Low Set Today (ICON)

By James Quinn

Iconix Brand Gro (NASDAQ:ICON) traded today at a new 52-week low of $0.21. This new low was reached on below average trading volume as 755,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

There is potential upside of 220.8% for shares of Iconix Brand Gro based on a current price of $0.22 and an average consensus analyst price target of $0.70. The stock should run into initial resistance at its 50-day moving average (MA) of $0.49 and subsequent resistance at its 200-day MA of $0.96.

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

In the past 52 weeks, Iconix Brand Gro share prices have been bracketed by a current low of $0.21 and a high of $10.80 and are now at $0.22. The 200-day and 50-day moving averages have moved 3.53% lower and 5.1% lower over the past week, respectively.

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 79.9%. 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