ICUI closes higher for the 2nd day in a row
ICU Medical Inc. (ICUI) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, ICUI finished the week 1.54% higher at 214.00 after gaining $2.60 (1.23%) today, notably outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (ICUI as at Feb 14, 2020):
Friday's trading range has been $4.13 (1.95%), that's slightly below the last trading month's daily average range of $4.99. Weekly volatility is also lower, being way below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for ICUI. Prices continued to consolidate within a tight trading range between 208.34 and 215.25 where it has been caught now for the whole last trading week.
One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on February 6th, ICUI actually lost -1.73% on the following trading day.
Prices are trading close to the key technical resistance level at 215.25 (R1). After having been unable to move above 214.78 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 215.08.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 215.25 where further buy stops might get activated.
Among the six market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(14) above 70" stand out. Its common bearish interpretation has been confirmed for ICU Medical. Out of 56 times, ICUI closed lower 66.07% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after three trading days, showing a win rate of 57.14% with an average market move of -0.17%.