InterContinental Exchange (ICE) looked very promising 2 days ago when there was a big price spread on higher volume then previous days. Also when stocks continue to drop in price for more than 5 consecutive days there is a high improbability that you will see a reversal. Additionally it reach the previous low close on 8/16 and tested with lighter volume which means that there are no more sellers (….for now).

My positive trade signs were:

• Tested the previous low on 8/16 on 9/18 with a lower low but higher volume a wider price spread
• Went below the 200 EMA and closed above it withing 3 trading days
• Is above the 9 EMA and 21 EMA
• Volume was good this morning.
• Slow Stohastic turned up and is over 36
• MACD histogrm went positive

I entered into a position on ICE this morning. We may see resistance as we are approaching my upper down trend line but I believe that we have enough volume and buyers to break through this.

• My first target is $149.99 and must have higher volume than 1.6MM shares. See pink line.
• My second target is $164.44 and must have higher volume than 2.7MM shares. See pink line.