Intercontinental Exchange - Caution, lid may explode!

Company description

Intercontinental Exchange focuses on the financial markets sector and related services. Its main activities include operating exchanges, clearing houses and providing data solutions. Intercontinental Exchange operates several regulated exchanges and marketplaces for financial and commodity derivatives. In addition, the company offers securities settlement and risk management services.

The Derivatives segment includes a variety of products, including futures and options on financial instruments, energy resources and agricultural products. Another important area is the trading and settlement of fixed income securities and commodities. In addition, Intercontinental Exchange provides financial market data, analytics and related services used by market participants for price discovery, trading and risk assessment.

Chart technical outlook

The chart inspires me in the current market environment. On a daily basis, the Intercontinental Exchange is currently fighting for the record high of USD 141.16. The previous consolidation movement at a high level, which was recently resolved upwards, is clearly visible. Follow-up purchases must now follow over the next few days to confirm the breakout scenario. Meanwhile, there are also short-term risks of another detour above just under USD 130 before a sustained increase can be achieved.

However, if the stock can overcome the resistance on a weekly closing price basis, the probability increases that the security will make a run towards USD 160. I am currently watching the possible setup closely again because I like the stock very much for a possible long position.

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