ICEing on the Capitulation Cake
Michelle B submits:
LP commented concerning though he was aware ICE was moving down on strong volume, he did not have an edge in trading ICE as a capitulation play on Monday, April 2. ICE is noteworthy for several reasons. Firstly, it capitulated from a reverse head and shoulders bottom.
NOTE: Volume on below charts is not prominently displayed, please refer to your own charts to see the volume pattern.
Secondly, ICE used the bottom of a five-day price range as the springboard for the capitulation.
Thirdly, this range was echoed on the daily.
tagged: Capitulation, IntercontinentalExchange-Inc.-(ICE), rangebound-price, reverse-head-and-shoulders and Technical Analysis
