Buy: ICE (137.7) Daily chart suggests upside while weekly has held support 120 area

Rationale: Intercontinental Exchange (ICE ) is holding support, once again, on the weekly charts. Although the weekly chart looks head and shoulderish, momentum hit historical lows and indicates a strong price bounce from these levels. Previous and current daily bullish MACD divergences indicate (see green rectangles) an upside move. Also, fundamental data reflects continued positive quarterly earnings surprises and revisions while year end 2008 average earnings estimates of $4.95 at current trailing P/E 40 multiple give a ridiculous high price of 198. The upside 38.20 fib retrace calculates to 145.41 from the Dec '07 high.

Buy stop : 138.25
Target: 145
Stop: 132