Technical Analysis ICT

Stock: ICT
Company: International Container Terminal Services Inc.
Support: 123.00 / 120.00
Resistance: 130.00

Watch out for ICT, as its MACD is currently showing signs of a bearish crossover. Selling pressure will likely start to dictate ICT’s trend within the next few days, as it is currently trading at a premium to all its major moving averages.

RSI is now in neutral, after weeks of showing bullish signals. Meanwhile, DMIs are showing consistently high selling pressure–but with low momentum. This implies that while there may still be profit-taking left over, the sellers are not too aggressive.

Hence, we fully expect the support at 120.00 to 123.00 to hold this week.

Recommendation

Buy when support holds.

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