ICON Update: Is it going to bounce?
ICX (ICON) is moving in a well-shaped parallel channel on the weekly chart. It has been reacted well to an important level at $1.2 which is also a long-time dynamic support and the bottom line of the main channel. IF it bounces from this level and stabilizes above the EMA200 (Ideally at $1.4) we can expect the price to test the resistance at $2.5. The target price for another leg up for ICX will be around $4.36.
If it loses the support $0.65 will be the first level to hold the price.
If it loses the support $0.65 will be the first level to hold the price.
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