ICON ENERGY CORP (ICON) Stock Technical Analysis
NASDAQ:ICON - Nasdaq - MHY4001C2065 - Common Stock - Currency: USD
We assign a technical rating of 4 out of 10 to ICON. Recently some decent action could be observed, but in the medium term time frame this is still negative. ICON was also a bad performer in the overall market in the last year.
94% of all other stocks performed better in the past year than ICON.
ICON is part of the Marine Transportation industry. There are 34 other stocks in this industry, of which 75% are performing better than ICON.
ICON is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
ICON has an average volume of 1397670 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
In the last month ICON has a been trading in the 1.76 - 3.29 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
ICON has an average technical rating and it also does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
2.32
2.96
When analyzing the support we notice one important area.
- A support zone ranging from 2.34 to 2.37. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 2.93 to 2.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for ICON is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ICON is up. |
| ChartMill Relative Strength | 6.2 | NEGATIVE | ICON has a low relative strength, it was outperformed by 93.8% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ICON is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ICON is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ICON is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 63.2 | NEUTRAL | The RSI value for ICON is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests ICON has a positive trend. |
| Stochastics (14,3) | 88.03 | OVERBOUGHT | The high Stochastics value suggests ICON may be overbought. |
| Average True Range in percent/ATR (20) | 12.85 | HIGH VOLATILITY | The high ATR as a percentage value for ICON suggests high volalility. |
| Average Directional Index/ADX (14) | 33.98 | POSITIVE | The high ADX value value for ICON suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.82
+0.17 (+6.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorIndustrials
GICS IndustryMarine Transportation
Performance
% Chg6.42%
1 Week17.5%
2 Weeks28.77%
1 Month54.95%
3 Month38.92%
6 Month-96.63%
12 Month-98.09%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.26
ATR(20)%12.85%
ATR Inc-19.55%
Range Today0.3
ADR(20)0.3
ADR(20)%10.62%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS6.2
Mansfield-9.5
10 Day High2.95
10 Day Low2.19
20 Day High3.29
20 Day Low1.76
52 Week High151.41
52 Week Low1.6
CS1 End2.37
CR1 Start2.93
Volume & EV
DER(3)9.82%
DER(5)4.93%
Volume203.30K
Volume Incr-84.05%
Vol(5)522.28K
Vol(50)1.40M