INTERCONTINENTAL EXCHANGE IN is showing promising signs of setting up for a breakout.

Our stock screener has flagged INTERCONTINENTAL EXCHANGE IN (NYSE:ICE) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:ICE for potential movement.

Zooming in on the technicals.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, ICE scores 7 out of 10 in our technical rating. In the last year, ICE was one of the better performers, but we do observe some doubts in the very recent evolution.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, ICE did better than 76% of all other stocks. On top of that, ICE also shows a nice and consistent pattern of rising prices.
• ICE is one of the better performing stocks in the Capital Markets industry, it outperforms 70% of 212 stocks in the same industry.
• ICE is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ICE is lagging the market slightly.
• In the last month ICE has a been trading in a tight range between 131.79 and 138.50.

Our latest full technical report of ICE contains the most current technical analsysis.

How do we evaluate the setup for NYSE:ICE?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ICE has a 9 as its setup rating, indicating its current consolidation status.

ICE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 138.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 135.17, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:ICE

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.