Icahn Enterprises stock upgraded to Sell Candidate.
(Updated on Dec 08, 2023)
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.52% during the next 3 months and, with a 90% probability hold a price between $12.15 and $15.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
IEP Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, December 07, 2023, and so far it has risen 0.246%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Icahn Enterprises stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.63 and $17.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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Support, Risk & Stop-loss for Icahn Enterprises stock
Icahn Enterprises finds support from accumulated volume at $16.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.260 between high and low, or 1.60%. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IEP) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Icahn Enterprises L.P. to open at $16.38, and during the day (based on 14 day Average True Range), to move between $15.75 and $16.91, which gives a possible trading interval of +/-$0.578 (+/-3.54%) up or down from last closing price. If Icahn Enterprises L.P. takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.29 (0.24%) than the resistance at $17.26 (5.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Icahn Enterprises L.P. stock A Buy?
Icahn Enterprises holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.985 Open Broker AccountSell Candidate Upgraded
Predicted Opening Price for Icahn Enterprises L.P. of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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