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After Yesterday's Rally of 1.32% Shares Could Potentially Pullback

By Nick Russo

IntercontinentalExchange (NYSE:ICE) traded in a range yesterday that spanned from a low of $60.50 to a high of $61.22. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $60.70 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, IntercontinentalExchange share prices have been bracketed by a low of $53.27 and a high of $287.02 and are now at $61.12, 15% above that low price. Over the past week, 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 77.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders IntercontinentalExchange

Ticker(s): ICE