A Wild Play on ICON for Those Who Like Taking Risks
Posted on Wed 8th Nov, 2006 10:11:57 AM
Like taking risks? Shares of Iconix Brand Group (ICON), the women’s shoe manufacturer is currently sitting at its 50 Day Moving Average again, which has proven very strong for the stock as a support point over the last week. If you’d like a reminder of what happened, the company posted earnings and the stock tanked from $19.64 to below $15, just to climb all the way back to a close almost right at its 50 MA at $16.44. The 50 MA has uptrended since and the last real time tick on ICON is $16.70 @ 10:09:56. Volume is just over 70,000. If the 50 MA holds then you have upward potential of the shares going back towards $19, if not look for support at the 200 MA which is at just over $15.
Happy Hunting!!
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