ICON, a Bullish Chart

Iconix Brand Group (ICON, $30.60, up $0.20) was actually a subscribers choice that we analyzed earlier today and here are the parameters.

I like ICON on the buy side as long as price continues to hold above this Fibonacci price cluster zone identified earlier today at the $29.51 – $29.89 area.  This zone include multiple price relationships.  It included price extensions, price retracements AND what I like to call symmetry projections AKA measured moves.  If this key support holds, the initial upside target comes in at $33.63 and target 2 comes in at $34.64.


I consider myself “wrong” on the trade if this price cluster zone is violated by a decent margin.  In other words, if broken by a nickel….it’s probably still ok!  This is a thinly traded option stock.