The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 3/15/2024 -
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IntercontinentalExchange Inc. (ICE) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the IntercontinentalExchange Inc. (ICE). During the week, the ICE dropped -4.02 points, or -2.90%, and closed at 134.64 on Friday, March 15, 2024. ICE was trading at average weekly trading volume.

ICE is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ICE long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 88.60 and reached 140.43 on March 7, 2024. ICE gained -51.83 points, or -58.50%, in 73 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (107.99) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ICE medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 104.49 and reached 140.43 on March 7, 2024. ICE gained -35.94 points, or -34.40%, in 18 weeks. The price is now at the 16.11% retracement level.

Weekly Technical Indicators: [See ICE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See ICE short-term trend chart]
A short-term downtrend had started on March 7, 2024 at 140.43 and reached 134.21 on March 15, 2024. ICE lost 6.22 points, or 4.43%, in 8 days. The price is now at the 6.91% retracement level.

Daily Technical Indicators: [See ICE daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.

The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.83% on Friday. It is 50.80% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.13
Williams' Percentage Range (W%R) 100.00
Strong Oversold
Lane's Stochastic (%D-Slow) 27.95
Greed/Fear Indicator (GFI) 20.03
Moving Average Converg./Diverg. (MACD) 1.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.88
Williams' Percentage Range (W%R) 17.30
Overbought
Lane's Stochastic (%D-Slow) 89.00
Overbought
Greed/Fear Indicator (GFI) 77.08
Moving Average Converg./Diverg. (MACD) 5.32
Trading Signals
Description Value Chart
Parabolic System 139.77
Upper Bollinger Band 139.06
Weekly Stochastic Crossing 138.53
20 Day Moving Average 137.81
Daily Stochastic Crossing 135.82
Price 134.64
Lower Bollinger Band 133.92
50 Day Moving Average 132.45
Quarterly Trendline Resistance 125.87
Quarterly Trendline Support 107.99
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 32
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 140.43
High Date 03/07/2024
Low 134.21
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 140.43
High Date 03/07/2024
Low 134.21
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 104.49
Low Date 10/27/2023
High 140.43
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 125.87
Support 107.99
Low 88.60
Low Date 10/13/2022
High 140.43
High Date 03/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 139.79
High Date 11/02/2021
Low 88.60
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.