Good technical signals and a possible breakout for INTERCONTINENTAL EXCHANGE IN.

Our stock screener has detected a potential breakout setup on INTERCONTINENTAL EXCHANGE IN (NYSE:ICE). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:ICE.

What is the technical picture of NYSE:ICE telling us.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, ICE scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that ICE is one of the better performing stocks in the market, outperforming 76% of all stocks. We also observe that the gains produced by ICE over the past year are nicely spread over this period.
• ICE is one of the better performing stocks in the Capital Markets industry, it outperforms 72% 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 137.57.

For an up to date full technical analysis you can check the technical report of ICE

Why is NYSE:ICE a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:ICE currently has a 9 as setup rating:

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 136.16, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:ICE

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.