INTERCONTINENTAL EXCHANGE - ICE
I last commented on this stock at the end of December 2007, where I noted a potential top based on 5 waves up. My initial downside target of $147.25 has been achieved.
Monthly chart shows major selling pressure in January 2008, which resulted in a break of the up trendline in place. Next downside target is the $95 area . No buy signal/pattern evident on this timeframe.
Weekly chart shows continued weakness in price action.
Daily chart shows possible consolidation pattern developing. Price remains below all key moving averages.
Saturday, February 02, 2008
ICE Update for 02.02.2008
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