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Look for Shares of Intercontinental to Potentially Rebound after Yesterday's 1.18% Sell Off

By Shiri Gupta

Intercontinental (NYSE:ICE) traded in a range yesterday that spanned from a low of $84.33 to a high of $85.42. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $84.68 on volume of 548,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Intercontinental have traded between a low of $69.69 and a high of $86.78 and are now at $84.59, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

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 11.3%. We continue to monitor ICE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders intercontinental

Ticker(s): ICE