Intercontinental Exchange Inc., the owner of some of the largest futures markets and the New York Stock Exchange, wants to build a global platform for Bitcoin trading.
Named Bakkt, Intercontinental Exchange Inc.’s latest venture will aim to provide “an open and regulated, global ecosystem for digital assets”, according to its statement on Friday. The venture plans to start offering one-day futures contract in November, which will give bitcoins (versus cash) to contract holders upon the contract’s expiration.
The company will team up with Starbucks and Microsoft, in addition to several venture capital/investment firms, for setting up this platform.
ICE saw its Momentum Indicator move above the 0 level on May 07, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 79 similar instances where the indicator turned positive. In of the 79 cases, the stock moved higher in the following days. The odds of a move higher are at .
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where ICE's RSI Indicator exited the oversold zone, of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ICE just turned positive on May 07, 2024. Looking at past instances where ICE's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ICE advanced for three days, in of 340 cases, the price rose further within the following month. The odds of a continued upward trend are .
ICE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
ICE moved below its 50-day moving average on April 09, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for ICE crossed bearishly below the 50-day moving average on April 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ICE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for ICE entered a downward trend on May 07, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. ICE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.052) is normal, around the industry mean (5.433). P/E Ratio (32.704) is within average values for comparable stocks, (35.241). Projected Growth (PEG Ratio) (2.691) is also within normal values, averaging (2.610). Dividend Yield (0.013) settles around the average of (0.030) among similar stocks. P/S Ratio (7.819) is also within normal values, averaging (105.216).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
an operator of online global electronic marketplace for trading in futures and over-the-counter commodities
Industry InvestmentBanksBrokers