LuckyDinAZ
Long

P/E Resistance Tipping Point, possibly?

NASDAQ:ICLR   ICON PLC
16 0 3
Recently had a positive breakout due to earnings from a resistance line set a year ago after earning on 7/28, free cash flow has been improving since that time and the current CMF             is positive on the weekly and daily chart . Recent earnings broke the prior resistance but have pulled back. Buying on the pullback with the expectation of support having been confirmed on the daily charts . P/E has been dropping from a high of 72 in 2012 to the current 17.37 in 2016. On the cusp of breaking the PE resistance as well and may continue to move higher. Currently speculation is that the price has meet the P/E resistance line from 2012 at the current price, has been consolidating around 76 a prior and current resistance level . If it Breaks the 2012 P/E resistance it would meet another P/E resistance level at 20-19 which is an improvement from the current 17.37. It has touched the 20day moving average in the Bollinger Bands post breakout of the upper band, and may bounce positively off of it. Would enter a short position if I could, if the long conjecture is false.
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