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May 11, 2006
ICGE Making a Comeback
Remember those internet incubators? Internet Capital Group (ICGE) was one of the high flyers in 1999 and has been trading flat since 2002. The stock broke falling flag resistance with a surge in March and this breakout is holding. There is massive resistance around 10 and a break above this level would forge a multi-year high. I think price action is currently bullish and expect a breakout. This is a high risk stock and I would watch the April low for signs of trouble.
Posted by Arthur B. Hill at May 11, 2006 08:56 AM