Could Intercontinental Exchange, Inc. (ICE) Recover After Forming a Bearish Ascending Triangle Chart Pattern?

July 14, 2018 - By Winifred Garcia

Investors sentiment decreased to 0.87 in Q1 2018. Its down 0.41, from 1.28 in 2017Q4. It is negative, as 45 investors sold Intercontinental Exchange, Inc. shares while 258 reduced holdings. 73 funds opened positions while 191 raised stakes. 486.05 million shares or 2.19% less from 496.95 million shares in 2017Q4 were reported.
Kentucky Retirement owns 30,389 shares or 0.19% of their US portfolio. Findlay Park Prtn Llp invested in 1.26% or 1.75M shares. Earnest Ptnrs Limited Liability Com reported 0.54% stake. D Scott Neal Inc reported 1,000 shares or 0.04% of all its holdings. Wellington Management Gru Llp reported 0.41% stake. Moreover, Oakbrook Invs Ltd has 0.16% invested in Intercontinental Exchange, Inc. (NYSE:ICE) for 35,125 shares. Mckinley Carter Wealth has 445 shares. Raymond James Fincl Inc reported 310,727 shares or 0.13% of all its holdings. Cibc World Mkts invested in 0.01% or 17,486 shares. Dupont Cap Mgmt has 4,216 shares for 0.01% of their portfolio. Cannell Peter B And Incorporated invested 0.03% in Intercontinental Exchange, Inc. (NYSE:ICE). Old Natl Financial Bank In stated it has 3,914 shares or 0.01% of all its holdings. Axa stated it has 0.07% in Intercontinental Exchange, Inc. (NYSE:ICE). Country Trust Fincl Bank reported 0.01% stake. First Bancorp reported 0.3% of its portfolio in Intercontinental Exchange, Inc. (NYSE:ICE).

The stock of Intercontinental Exchange, Inc. (ICE) formed an ascending triangle with $69.47 target or 7.00 % below today’s $74.70 share price. The 9 months triangle pattern indicates high risk for the $43.27 billion company. If the $69.47 price target is reached, the company will be worth $3.03 billion less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.08% or $0.06 during the last trading session, reaching $74.7. About 1.24M shares traded. Intercontinental Exchange, Inc. (NYSE:ICE) has risen 17.24% since July 14, 2017 and is uptrending. It has outperformed by 4.67% the S&P500.

Analysts await Intercontinental Exchange, Inc. (NYSE:ICE) to report earnings on August, 2. They expect $0.88 earnings per share, up 17.33 % or $0.13 from last year’s $0.75 per share. ICE’s profit will be $509.72M for 21.22 P/E if the $0.88 EPS becomes a reality. After $0.90 actual earnings per share reported by Intercontinental Exchange, Inc. for the previous quarter, Wall Street now forecasts -2.22 % negative EPS growth.

Intercontinental Exchange, Inc. (NYSE:ICE) Ratings Coverage

Among 10 analysts covering Intercontinental Exchange (NYSE:ICE), 10 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Intercontinental Exchange had 11 analyst reports since January 16, 2018 according to SRatingsIntel. The stock of Intercontinental Exchange, Inc. (NYSE:ICE) has “Buy” rating given on Tuesday, January 16 by Jefferies. The stock of Intercontinental Exchange, Inc. (NYSE:ICE) has “Buy” rating given on Friday, April 6 by Deutsche Bank. The stock has “Overweight” rating by JP Morgan on Tuesday, February 20. Bank of America maintained the shares of ICE in report on Thursday, February 8 with “Buy” rating. As per Thursday, July 12, the company rating was maintained by Barclays Capital. On Tuesday, February 20 the stock rating was upgraded by J.P. Morgan to “Buy”. Keefe Bruyette & Woods maintained Intercontinental Exchange, Inc. (NYSE:ICE) rating on Wednesday, April 11. Keefe Bruyette & Woods has “Buy” rating and $8200 target. Keefe Bruyette & Woods maintained the stock with “Buy” rating in Thursday, February 8 report.

Intercontinental Exchange, Inc. operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Israel, Canada, and Singapore. The company has market cap of $43.27 billion. It operates in two divisions, Trading and Clearing, and Data and Listings. It has a 17.85 P/E ratio. The firm operates marketplaces for trading and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Intercontinental Exchange, Inc. (NYSE:ICE) Institutional Positions Chart

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