Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>IEP stock fell nearly 8% in the month of August.</a> </li> 
 <li> <span>2</span> <a>Icahn Enterprises stock trades below the key moving averages, indicating the mounting selling pressure.&nbsp;</a> </li> 
 <li> <span>3</span> <a>IEP Stock is trading at a very crucial level.&nbsp;</a> </li> 
</ul> 
<p>Icahn Enterprises L.P. (NASDAQ: IEP) stock price has been bearish on the charts since the breakdown of the round level of $50. Bears are in control, eroding a market cap of more than 60% in the last 6 months and losing nearly 18% in the last 3 months. The stock price showed a sharp decline from $50 to a low of $18.03.&nbsp;</p> 
<p>The IEP stock daily chart shows that the price has been volatile over the last 6 months after a crash below the $50 level to $18. The price surged to a high of $35, thereby breaking above the 50-EMA. However, the price could not sustain longer and slipped to the lower levels.&nbsp;</p> 
<p>Currently, the price trades at $19.85 near the previous demand zone, and is forming a symmetrical triangle pattern over the daily chart.&nbsp;</p> 
<p>The analysts offering a 1-year price forecast for Icahn Enterprises (IEP Stock) have given a maximum estimate of $27 and a minimum estimate of $17.50. Icahn Enterprises engages in the operation of Investment, Automotives, Energy, food packaging, real estate, and other businesses. The company was founded in 1987 and is headquartered in Sunny Isles Beach, FL.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/yifZOOIkBj6Xai49hUnGAALA1M2T1JKtF7wW1GFF2Z43i8L_1CvQXI0qwsG0Y99YimM7mpEh7Lj9HB2X-2OuhIdolpsQn8G1ecXDhqYgTimyPYhP4RcmvstS--VfS9OmcfpYxhUdgNIDBYotCAurTw" alt="IEP Stock Price Analysis: Can Icahn Enterprises Stock Fall Lower?"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/08/24/iep-stock-price-forecast-can-bulls-continue-with-the-momentum/" rel="noopener noreferrer nofollow">IEP stock</a> option-chain analysis shows that the current implied volatility in the market is 48.12% with an increment of 0.73% in the last trading session. The nearest support at $19 has an OI of 245 on the PUT side and 126 on the CALL side, indicating the domination of buyers at the recent support level.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-iep-stock-price-forming-a-symmetrical-triangle-pattern-near-previous-demand-zone-strong"><strong>IEP Stock Price Forming A Symmetrical Triangle Pattern Near Previous Demand Zone</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/Y4UetW4PZ_RWI3_EYZJXPgJjp1bc496DBNTwbthC84Fa3goFM7i8tgk6OUxuiRQmHQ83IiK8hgR_qeRtyAmujBxu86JVPZk2HNVKbDGnaTr31Gk3z6O_N-oBJY2sjLVRQqOMzUsMtkVjqy3jcTM3yg" alt="IEP Stock Price Analysis: Can Icahn Enterprises Stock Fall Lower?"> 
  <figcaption class="wp-element-caption">
    Source: Icahn Enterprises (IEP Stock) 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>IEP stock price currently trades at $19.16 and forms a symmetrical triangle pattern over the daily chart. The price is near a recent support level of $19.16 and the breakdown of the triangle pattern may drag the price to a lower level of $17.50.<br><br>However, the price trades at the swing low from where it might get the support of buyers to break above the $20 level.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-showing-weakness-over-the-charts-strong"><strong>Technical Indicators Showing Weakness Over The Charts</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/VZak-M1fPobAMj_14wU3ZBP5Q-SlyXLgsL8zLQjObRws-dQ1BZgohMW_SZVCpo7ioF_Z5luz09YRHExHSHnw1roVFIwbqwrHqv1KhzcoiN2V-qUBJOAR6I2wIsK6bNGPXupvcEI5GyV5nTFp_zxsGw" alt="IEP Stock Price Analysis: Can Icahn Enterprises Stock Fall Lower?"> 
  <figcaption class="wp-element-caption">
    Source: Icahn Enterprises (IEP Stock) 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily IEP stock price chart shows that the price is trading below the 50 and 200 EMAs, indicating short-term as well as long-term domination of sellers in the market.</p> 
<p>The overall Technical Opinion rating, including the RSI and MACD indicators, is signaling a 90% sell with a strengthening short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/24/iep-stock-price-forecast-can-bulls-continue-with-the-momentum/" target="_blank" rel="noopener noreferrer nofollow">IEP stock price</a> has been in a downtrend since it broke below the $50 level and lost more than 60% of its market cap in the last 6 months. The price has been volatile and formed a symmetrical triangle pattern on the daily chart. The price is near a recent support level of $19.16 and might either break down to $17.50 or bounce back to $20. The analysts have given a maximum estimate of $27 and a minimum estimate of $17.50 for the stock price.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $19.1 and $17.5.</li> 
 <li><strong>Resistance levels:</strong> $22.75 and $25.3.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

IEP Stock Price Analysis: Can Icahn Enterprises Stock Fall Lower?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 6, 2023

Anoma Foundation reveals Namada Mainnet at Korea Blockchain Week

Ethereum Stabilizes Above $1,600 But Fails To Bounce

New Viral Coin ATM Pumps Up 2,500% But Blockchain Analysts Say Its a Scam – Here's the Next Crypt...

CertiK’s Chief Security Officer Talks on AI-coded Smart Contracts

VRTX Stock Forecast: Can (NASDAQ: VRTX) Break Hurdles and Rise?

Coinbase Increases and Extends Bond Buyback Program with Enhanced Terms – Here's What You Need to...

Join our free newsletter for daily crypto updates!