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.
On April 23, 2024, the Stochastic Oscillator for ICE moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 48 instances where the indicator left the oversold zone. In of the 48 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
The RSI Oscillator 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 .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ICE advanced for three days, in of 342 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 Momentum Indicator moved below the 0 level on April 09, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ICE as a result. In of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
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 April 15, 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 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