IntercontinentalExchange Group (ICE) Falls Further As It's Water-Logged And Getting Wetter
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Trade-Ideas LLC identified
IntercontinentalExchange Group
(
) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified IntercontinentalExchange Group as such a stock due to the following factors:
- ICE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $142.6 million.
- ICE has traded 373,708 shares today.
- ICE traded in a range 204.4% of the normal price range with a price range of $7.42.
- ICE traded below its daily resistance level (quality: 10 days, meaning that the stock is crossing a resistance level set by the last 10 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).
Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.
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More details on ICE:
Intercontinental Exchange, Inc. operates a network of regulated exchanges and clearing houses for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Israel, Canada, and Singapore.
The average volume for IntercontinentalExchange Group has been 967,000 shares per day over the past 30 days. IntercontinentalExchange Group has a market cap of $24.7 billion and is part of the financial sector and financial services industry. The stock has a beta of 1.33 and a short float of 1.3% with 2.33 days to cover.
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