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SmarTrend Watching for Potential Pullback in Shares of IntercontinentalExchange After 1.54% Gain

By Shiri Gupta

IntercontinentalExchange (NYSE:ICE) traded in a range yesterday that spanned from a low of $58.46 to a high of $59.59. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $59.39 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, IntercontinentalExchange has traded in a range of $53.27 to $287.02 and is now at $59.46, 12% above that low. The 200-day and 50-day moving averages have moved 0.15% higher and 0.15% higher over the past week, respectively.

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 78.2%. 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