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
- 2/16/2024 -
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IntercontinentalExchange Inc. (ICE) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergence
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a fourth consecutive positive week for the IntercontinentalExchange Inc. (ICE). During the week, the ICE gained 1.63 points, or 1.20%, and closed at 137.12 on Friday, February 16, 2024. Weekly volume was -11% below average.

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 138.34 on February 16, 2024. ICE gained -49.74 points, or -56.14%, in 70 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (107.00) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 138.34 on February 16, 2024. ICE gained -33.85 points, or -32.40%, in 16 weeks. Price is near the trend high.

Weekly Technical Indicators: [See ICE weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index 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 near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ICE short-term trend chart]
A short-term uptrend had started on January 4, 2024 at 124.36 and reached 138.34 on February 16, 2024. ICE gained -13.98 points, or -11.24%, in 43 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (126.53) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.

Daily Technical Indicators: [See ICE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.01
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 91.36
Strong Overbought
Greed/Fear Indicator (GFI) 84.52
Overbought
Moving Average Converg./Diverg. (MACD) 2.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.25
Overbought
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 90.80
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 85.65
Overbought
Moving Average Converg./Diverg. (MACD) 3.71
Trading Signals
Description Value Chart
Upper Bollinger Band 139.25
Daily Stochastic Crossing 137.26
Price 137.12
Weekly Stochastic Crossing 137.04
Weekly Trendline Resistance 130.77
20 Day Moving Average 130.51
Parabolic System 129.95
50 Day Moving Average 126.54
Weekly Trendline Support 126.53
Quarterly Trendline Resistance 124.88
Lower Bollinger Band 123.41
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 53
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 125.72
Low Date 02/06/2024
High 138.34
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 130.77
Support 126.53
Low 124.36
Low Date 01/04/2024
High 138.34
High Date 02/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 104.49
Low Date 10/27/2023
High 138.34
High Date 02/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 124.88
Support 107.00
Low 88.60
Low Date 10/13/2022
High 138.34
High Date 02/16/2024
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.