Over a month ago, I analyzed International Container Terminal Services (stock symbol: ICT) when it was trading around the 100 level. Selling pressure has improved since then, and now 100, a previous support, is acting as a resistance to higher prices.
The “good” news is the decline through 100 has been subdued, and price has been corralled between the area of 95-100 for nearly two weeks now.
The Relative Strength Index (RSI) would move north of the 50 level if this stock will advance.
TP’s Advice: Again, be very careful of this stock. New highs will remain elusive as long as price can’t take out the 100 level. 94-95 must remain protected from further attacks. Else, 80 and the June 25 low at 77.50 are waiting.