Icon has made a nice push up towards two of my target zones since my first post (a price increase of around 38% from the time of my post to the recent top). It has since cooled off a bit and has been consolidating. I also made a video about shakeout tactics (linked below) which explains how whales accumulate before the ultimate breakout. This is something you can use to your advantage as well, if you like swing trading.
As for current price action, we could see a bigger pullback here in order to take on that 990-1000 resistance. As mentioned in my other post, my ultimate target was in the 1400-1500 area for ICX, which is an 100% profit gain from my original setup. Time will tell if we can make it there. Right now, ICX seems like it might need to cool off further (RSI overheated, and the Ultimate Oscillator is showing that we may be near a top on the weekly):
However, if we do get back above 900 with some volume, we can attempt to break that resistance. I think we may need a deeper pullback first though, judging by the indicators mentioned above. We currently have support at or near the red lines on my chart.
This is not financial advice. Just an update on a chart I've been watching, and where I'm seeing this potentially going.
-Victor Cobra
As for current price action, we could see a bigger pullback here in order to take on that 990-1000 resistance. As mentioned in my other post, my ultimate target was in the 1400-1500 area for ICX, which is an 100% profit gain from my original setup. Time will tell if we can make it there. Right now, ICX seems like it might need to cool off further (RSI overheated, and the Ultimate Oscillator is showing that we may be near a top on the weekly):
However, if we do get back above 900 with some volume, we can attempt to break that resistance. I think we may need a deeper pullback first though, judging by the indicators mentioned above. We currently have support at or near the red lines on my chart.
This is not financial advice. Just an update on a chart I've been watching, and where I'm seeing this potentially going.
-Victor Cobra
