Monday, June 30, 2008
The ICE is Breaking
ICE Made a new 1.5 year closing low today. The volume was not strong enough to confirm what looks like a major breakdown, but this stock is in trouble. The scale of the pattern gives a long term target in the middle of the 2006 price range. In the very short term, next support is around $110 which is where I'd expect a bounce back up to the breakdown price ($114). But then it drops to $61? Things are starting to get really ugly.
Labels:
Bear Market,
Bears,
ICE
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