Stock in Focus: International Container Terminal (ICT)

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International Container Terminal Services (stock symbol: ICT) followed the bullish prescription and soared to fresh record highs on Friday, hitting a 109 high and capping the week on a very strong note at 108.

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Philippine Stock Exchange, International Container Terminal_ICT Daily chart, March 28, 2014

ICT Daily chart, March 28, 2014

ICT’s stock could attract more activity in the coming weeks. Traders should keep this in mind.

The Money Flow Index (MFI) displays 2 instances of bearish divergence, highlighting the possibility of a temporary decline in ICT’s price soon.

Ideal support should come in around 102-106 (95-100 must weather extreme bearish threats). On the upside, the initial target for ICT is the 120-130 region.

Do you have ICT in your portfolio? Share your thoughts below!

 

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