TMCnet News
Downgrade Alert for IntercontinentalExchange (ICE)Jan 09, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- IntercontinentalExchange (NYSE:ICE) was downgraded from Outperform to Neutral at Macquarie today. The stock closed yesterday at $127.18 on volume of 1.8 million shares, above average daily volume of 1.3 million. IntercontinentalExchange has overhead space with shares priced $127.18, or 14.5% below the average consensus analyst price target of $148.81. The stock should run into initial resistance at its 50-day moving average (MA) of $129.24 and subsequent resistance at its 200-day MA of $131.35. In the past 52 weeks, IntercontinentalExchange share prices have been bracketed by a low of $110.67 and a high of $142.75 and closed yesterday at $127.18, 15% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 0.13% lower over the past week, respectively. IntercontinentalExchange Inc. operates global commodity and financial products marketplaces. The Company operates electronic energy markets and soft commodity exchanges as well. ICE offers access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, ethanol, orange juice, and sugar. SmarTrend recommended that its subscribers protect gains by selling shares of IntercontinentalExchange on October 2nd, 2012 by issuing a Downtrend alert when the shares were trading at $131.36. Since that call, shares of IntercontinentalExchange have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |