Intercontinental Exchange, Inc. (ICE) is now trading with a very clear set of technicals. Taken together they paint a very compelling picture of how investors and traders should be approaching ICE. Traders who rely only on fundamentals do themselves a great disservice, often missing out on the better upside inherent in a stock. This is why technical charts are important.
ICE’s most recent trading session saw the stock achieve a high of $60.59 and a low of $60.22. The high in the most recent session compares poorly to the established 52-week high of $61.98 which was set by ICE on 03/17/17. The recent low represents a 28.14% since 06/27/16 which is a good sign for traders looking to capitalize on the stock’s upside. The current trading pattern for the stock is very telling when one looks at the overall sentiment of analysts. Presently there is a target price of $65.68 set for ICE, a figure which is below the most recent high set by the stock. The stock also has a beta of 0.73. Since the beta is less than 1, it can be interpreted that the stock is theoretically less volatile than the market – something traders will surely be keeping an eye on.
Many traders are now starting to take a look at the stock and they are eyeing it with a few other technical indicators in mind. Both the Relative strength indicator (RSI) and Stochastic measures have come into play for ICE. Based on current readings for ICE, the 14-day RSI is 67.33%. This suggests that ICE is neutral, suggesting that the stock is relatively stable in terms of upward or upward price movement. The stochastic reading is also very revealing based on current readings. In this case, ICE has a stochastic reading of 83.33%. This suggests ICE is overbought at current levels. ICE also paints a compelling picture via its 50 and 200 SMAs. ICE, based on the current trend can be considered bullish. This sentiment has created an attitude towards the stock which can be reasonably said to be positive.
Traders can bolster their view of a stock’s upside by taking a keen look at other technicals in support of the ones explored above. ICE’s +1.24 has created a positive sentiment when measured over the past 30 days. ICE has outperformed the S&P 500 by 0.71. This, has concluded initially, has created lower volatility levels when compared to other stocks in the same sector. Historical volatility for ICE is showing a reading of 14.95%. ICE also presents with an Average True Range reading of 1.31. ICE and its technical indicators now show a full picture and a very good sense of where traders need to invest their time and energy. These readings should not be ignored.