Trading Spotlight on Shares of Independence Contract Drilling Inc (ICD)

Investors may be taking a closer look at some different trading signals on shares of Independence Contract Drilling Inc (ICD). After a recent check, we can see that the current 20-day moving average vs price signal is Hold. This is the signal from the 20-day MA which is used to monitor changes in stock price. The current signal strength is Rising and the direction has been noted as Buy. Taking a longer-term view, we can see that the 100-day moving average verse price signal is Strengthening. The 100-day MA verse price strength is -0.06, and the direction of the signal is 3.64.

Investors typically have the option of following what the professional Wall Street analysts are saying about the stock. Analysts may provide estimates and recommendations on stocks that they cover. At the time of writing, the current analyst rating on the stock is 0.26. This is based on a scale where a 5 would represent a Strong Buy, a 4 would equal a Moderate Buy, 3 a hold, 2 a moderate sell, and a rating of 1 would indicate a Strong Sell.

Investors closely watching shares of Independence Contract Drilling Inc (ICD) may want to focus in on the current opinion signal for the stock. The opinion signal for the current trading session is 63.88%. Looking back at the last month, the opinion signal reads 24% Buy. This is the combined signal for the previous month when applying a wide array of studies based on price movement. Investors may also be interested in the direction of the opinion signals. The opinion direction is currently Average. This is a measurement over the past three trading sessions that provides an indication of whether the latest recent price movement is following the signal.

Focusing in on some further data, we note that the stock has a current weighted alpha of Average. The weighted alpha gauges how much the stock has increased or decreased over the period of one full year. The weighting puts higher emphasis on more recent activity providing a more relevant measure for short-term technical analysts to use. A positive weighted alpha reading indicates that the stock has risen over the past year. A negative reading would indicate that the stock is down over that same time period. Technical traders often use the weighted alpha to help discover stocks that are building momentum.

After a recent check, we can see that Independence Contract Drilling Inc (ICD)’s first resistance level is 3.65. On the flip side, investors are tracking the first support level of 4.2. Investors are often paying close attention to stock price support and resistance levels. The support is simply a level where a stock may see a bounce after it has fallen. If the stock price manages to break through the first support level, the attention may shift to the second level of support. The resistance is the opposite of support. As a stock rises, it may see a retreat once it reaches a certain level of resistance.

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