ICON plc Stock Forecast
Red day on Thursday for ICON plc
(Updated on Apr 25, 2024)
The ICON plc stock price fell by -3.02% on the last day (Thursday, 25th Apr 2024) from $309.44 to $300.08. During the last trading day the stock fluctuated 7.39% from a day low at $296.63 to a day high of $318.55. The price has fallen in 7 of the last 10 days and is down by -3.94% for this period. Volume has increased on the last day by 244 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $358.08 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $291.02 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.50% during the next 3 months and, with a 90% probability hold a price between $330.31 and $412.83 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ICLR Signals & Forecast
There are few to no technical positive signals at the moment. The ICON plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $320.07. On a fall, the stock will find some support from the short-term average at $298.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -11.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ICON plc stock
ICON plc finds support from accumulated volume at $292.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $21.92 between high and low, or 7.39%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICLR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ICON plc to open at $305.09, and during the day (based on 14 day Average True Range), to move between $290.75 and $309.41, which gives a possible trading interval of +/-$9.33 (+/-3.11%) up or down from last closing price. If ICON plc takes out the full calculated possible swing range there will be an estimated 6.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $306.45 (2.12%) than the support at $292.72 (2.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ICON plc stock A Buy?
The ICON plc stock holds several negative signals and despite the positive trend, we believe ICON plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.901 Sell Candidate Unchanged
Predicted Opening Price for ICON plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $305.09 ( 1.67%) | $300.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICLR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 327.01 | 8.97 % | |
| R2 | 318.63 | 6.18 % | ||
| R1 | 313.46 | 4.46 % | ||
| Current price: | 300.08 | |||
| Support | S1 | 296.71 | -1.12 % | |
| S2 | 291.54 | -2.85 % | ||
| S3 | 283.17 | -5.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 313.37 | 4.43 % | |
| R2 | 309.44 | 3.12 % | ||
| R1 | 306.45 | 2.12 % | ||
| Current price | 300.08 | |||
| Support | S1 | 292.72 | -2.45% | |
| S2 | 290.14 | -3.31% | ||
| S3 | 260.50 | -13.19% |
FAQ
Click here for our free guide on how to buy ICON plc Stock.
