The PEAD projected a Bullish outlook for $ICLR after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 93.33%.
$ICLR may represent a buying opportunity on this pullback. Health care, specifically large cap health care like this one tend to do well in deflationary environments and with the Fed signaling 3 rate hikes in 2022 it may be an opportune time to get positioned.
Recently had a positive breakout due to earnings from a resistance line set a year ago after earning on 7/28, free cash flow has been improving since that time and the current CMF is positive on the weekly and daily chart. Recent earnings broke the prior resistance but have pulled back. Buying on the pullback with the expectation of support having been confirmed...
ICLR on a long uptrend
price consolidate at 50$ and created inverse H&S
broke neckline today on good earnings result
nice upside potential here but big stop loss
*for conservative traders - look for a closing gap down move and support at gap/neckline
GL
