Fri 19'th Oct 2018
Icahn Enterprises L.P. Stock Analysis
Technical stock analysis for Fri 19'th Oct 2018
|Shorts||5.14% ( 2018-09-28 )|
Icahn Enterprises L.P. fell by -1.86% in the last day from $69.92 to $68.62 The price has fallen in 6 of the last 10 days , but is still up by 0.76% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -14 265 shares and in total 41 292 shares bought and sold for approximately $2.83 million.
Icahn Enterprises L.P. lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $70.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.75% during the next 3 months and, with 90% probability hold a price between $48.16 and $59.63 at the end of this period.
Icahn Enterprises L.P. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $68.49 and $68.46. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday October 16, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 43 and the stock is currently not being overbought or oversold
Support & Resistance
Icahn Enterprises L.P. finds support from accumulated volume at $67.10.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.08 (3.03%) between high and low. For the last week, the stock has had a daily average volatility of 2.91%.
Our recommended stoploss: $65.10 (-5.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)
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Icahn Enterprises L.P. holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.Click for Top 5 Hold/Accumulates
|IEP $68.62 $-1.30(-1.86%)|
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