ICX is poised to pull back to prior Fib support

Please see chart. ICX has exploded in the last week, roughly doubling for those who got in and out anywhere near the high and low. A good friend and investment strategist at BNY Mellon always preached "reversion to the mean" and I'm not going to argue against one of brilliant investment minds I am grateful to have lunch with on a regular basis. Case and point: Ripple and the explosive growth they've had in 12/17 and look where it is now. The greater the deviation from the mean, the longer it takes to return, drop below mean and equalize which brings us to ICX. For ICX to double in a week's time shows the investor enthusiasm for this project and how undervalued it was thought to be. While the exact mean has yet to be truly realized, there is going to be some profit harvesting and some of those aforementioned overzealous investors (particularly those who bought in the candle body) selling off which will contribute to a pullback. 5-10% below the entry level would be a good place for stoploss should it drop to Fib's .5. It's important to note that the 25MA has crossed over the MA50 so for the short to mid term a bullish uptrend is expected.

Trade closed: target reached:

ICX dropped right into the entry zone with a low of 3653. BTC is currently testing $8k support and should it drop further, ICX has strong support in the 3443-3522 range. Remember the recommended stoploss is 5-10% below entry which puts it right around the strong ICX support zone so I'd make sure the stoploss is below it.