NASDAQ · Healthcare · Weekly analysis

ICLR Elliott Wave report

ICON PLC

Latest close USD 169.31 Week ending 11 Sep 2026 History 276 weeks
Current reading

The wave count points to an advance

The selected pattern describes a move upward. Compare it with trend, momentum and the price levels below before drawing a conclusion.

95/100 Setup score 100/100 Data quality Setup in timing window Setup status
A setup score is a measure of fit, not a probability or price forecast.
How to use this report

Start with price. Read the selected pattern and the weekly closing levels beside the chart. “Confirm” means a move supports that interpretation; it does not guarantee a return.

Compare the evidence. A wave count can disagree with the trend, momentum or sector. The report points out those differences before looking at timing.

Check the limits. Timing windows are estimates, the last swing can move, and historical outcomes vary. Open the rules and data notes for more detail.

01 · Price & key levels

The pattern and the prices to watch

Selected wave countPossible Wave 3 advancing

Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move.

Other readingsThe other readings support this direction

5 of 7 available readings support the upward wave interpretation; 1 lean against it. Agreement adds context, but does not guarantee the next move.

Main uncertaintyHigh count stability

The most recent swing is still forming and can extend. A settled label needs a confirmed reversal.

Weekly price and wave pattern

Move across the chart to inspect a week. Turn on explanations for a guide to the marked points.

Weekly close30-week trendFair ValueConfirmationCount failureSelected pattern

The shaded area marks the selected pattern. Filled dots mark confirmed turns; the outlined dot is still forming. Prices use completed weeks; changing the chart range does not recalculate the count.

Weekly chart values
Prices in USD · the history displayed on the chart
Week endingClose30-week trendFair Value
2023-09-22250.41229.25226.10
2023-09-29246.25229.66226.42
2023-10-06239.78230.52226.60
2023-10-13247.24231.84226.87
2023-10-20226.72232.50227.08
2023-10-27235.31233.23227.43
2023-11-03258.11234.91227.81
2023-11-10256.34236.47228.23
2023-11-17269.95238.56228.74
2023-11-24271.89241.20229.26
2023-12-01269.35243.85229.70
2023-12-08272.46246.27230.21
2023-12-15279.03248.48230.76
2023-12-22280.60251.04231.32
2023-12-29283.07253.09231.88
2024-01-05270.72254.72232.24
2024-01-12255.00255.42232.53
2024-01-19259.57256.52232.81
2024-01-26266.51257.07233.21
2024-02-02260.50257.87233.60
2024-02-09278.48258.94234.03
2024-02-16289.03260.38234.55
2024-02-23314.19262.45235.41
2024-03-01325.51264.85236.34
2024-03-08334.64267.40237.32
2024-03-15334.76270.21238.27
2024-03-22332.00272.73239.18
2024-03-29335.95275.17240.03
2024-04-05318.83277.46240.81
2024-04-12306.00278.94241.46
2024-04-19288.23280.20241.91
2024-04-26308.31282.27242.49
2024-05-03309.02284.58243.01
2024-05-10315.39286.85243.56
2024-05-17314.72289.78244.10
2024-05-24320.72292.63244.72
2024-05-31324.82294.85245.39
2024-06-07319.28296.95246.05
2024-06-14313.33298.40246.70
2024-06-21318.78299.96247.35
2024-06-28313.47301.43247.98
2024-07-05320.77303.04248.69
2024-07-12336.03304.94249.45
2024-07-19329.70306.58250.16
2024-07-26323.46307.92250.68
2024-08-02317.08309.47251.16
2024-08-09312.93311.40251.63
2024-08-16322.49313.50252.11
2024-08-23324.16315.42252.56
2024-08-30322.06317.47252.95
2024-09-06302.52318.27253.23
2024-09-13300.00318.64253.43
2024-09-20303.07318.27253.56
2024-09-27285.61316.94253.71
2024-10-04293.54315.57253.89
2024-10-11296.65314.30254.03
2024-10-18297.72313.15254.16
2024-10-25220.47309.31253.73
2024-11-01220.40306.02253.44
2024-11-08214.93302.99252.99
2024-11-15189.64299.70252.37
2024-11-22214.25296.57252.00
2024-11-29210.25293.27251.60
2024-12-06217.47290.01251.21
2024-12-13208.15286.46250.71
2024-12-20207.51282.68250.06
2024-12-27212.29278.93249.44
2025-01-03213.28275.40249.00
2025-01-10218.22272.23248.70
2025-01-17198.11268.21248.35
2025-01-24200.48264.44247.95
2025-01-31199.08260.38247.51
2025-02-07193.46255.63247.08
2025-02-14186.21250.85246.82
2025-02-21201.39246.78246.58
2025-02-28190.02242.55246.35
2025-03-07186.56238.33246.11
2025-03-14184.58233.74245.76
2025-03-21184.87229.09245.41
2025-03-28179.07224.33244.98
2025-04-04153.72219.37244.29
2025-04-11144.04214.17243.64
2025-04-18139.32208.71243.03
2025-04-25144.96204.02242.51
2025-05-02142.96199.00241.99
2025-05-09133.96193.58241.49
2025-05-16131.63188.04240.95
2025-05-23127.99184.96240.32
2025-05-30130.28181.96239.73
2025-06-06139.11179.43239.21
2025-06-13145.66177.96238.86
2025-06-20146.48175.70238.38
2025-06-27144.56173.51237.95
2025-07-04150.10171.27237.51
2025-07-11150.52169.35237.12
2025-07-18143.54167.22236.63
2025-07-25187.01166.37236.28
2025-08-01166.44164.81235.85
2025-08-08158.44162.82235.32
2025-08-15175.84162.08234.95
2025-08-22175.83161.25234.71
2025-08-29177.94160.55234.52
2025-09-05174.88159.93234.19
2025-09-12175.00159.56234.01
2025-09-19174.00158.64233.90
2025-09-26163.79157.77233.77
2025-10-03193.89158.01233.82
2025-10-10183.49157.98233.88
2025-10-17185.06157.98233.92
2025-10-24178.11157.95233.79
2025-10-31171.82158.56233.61
2025-11-07159.14159.06233.21
2025-11-14162.18159.82232.86
2025-11-21164.56160.47232.51
2025-11-28185.00161.88232.33
2025-12-05185.87163.61232.27
2025-12-12186.58165.44232.27
2025-12-19173.77166.96232.14
2025-12-26182.84168.71232.06
2026-01-02188.67170.37231.99
2026-01-09181.38171.56231.71
2026-01-16182.61172.76231.40
2026-01-23186.70174.17231.13
2026-01-30180.25175.17230.72
2026-02-06150.59175.17230.20
2026-02-1393.00173.49229.34
2026-02-2099.70170.58228.54
2026-02-27108.14168.64227.74
2026-03-06107.20166.93227.05
2026-03-1398.33164.34226.35
2026-03-2099.70161.81225.67
2026-03-27102.08159.28224.95
2026-04-03114.19157.25224.35
2026-04-10106.81154.98223.69
2026-04-17119.68153.17223.13
2026-04-24102.17151.12222.55
2026-05-01112.85148.42222.06
2026-05-08124.49146.45221.58
2026-05-15116.38144.16220.96
2026-05-22116.78142.12220.40
2026-05-29136.07140.92219.85
2026-06-05149.45140.60219.39
2026-06-12146.18140.07218.82
2026-06-19146.00139.45218.31
2026-06-26169.86138.94217.79
2026-07-03173.06138.52217.39
2026-07-10167.72137.89216.89
2026-07-17170.00137.76216.40
2026-07-24165.76137.19215.84
2026-07-31163.56136.36215.27
2026-08-07164.51135.79214.67
2026-08-14163.15135.15214.11
2026-08-21172.23134.66213.57
2026-08-28170.02134.32212.98
2026-09-04164.85134.80212.43
2026-09-11169.31137.34211.84
4-week return 3.8%
13-week return 15.8%
26-week return 72.2%
52-week return -3.3%
From 52-week high -17.0%
26-week volatility 52.5%
02 · Wave count

How the wave count fits

The chart uses a 10.0% closing-price reversal threshold. Filled markers are confirmed pivots; the outlined final marker is still forming.

Scenario comparison

Compare the possible patterns

Possible Wave 3 advancingPrimary swing size · Leading44%
Bearish A/B/C rebound may be completingPrimary swing size12%
Possible Wave 3 advancingTactical swing size44%
Weights compare the displayed patterns; they are not probabilities. The same pattern can appear at different swing sizes.
Leading wave count

Possible Wave 3 advancing

44% evidence weight

The count below meets the required wave rules. The details show which swings and proportions support it. A valid pattern is still an interpretation of past price moves.

Confirm above 169.31 Fails below 102.17 Count stability High · 100/100
Wave rules and proportions
PassWave 2 protects the Wave 1 originOrigin 93.00; Wave 2 102.17.
PassWave 3 exceeds Wave 1Wave 1 119.68; Wave 3 169.31.
GuidelineWave 2 retracement is proportionateRetraced 66% of Wave 1.
GuidelineWave 3 extension is plausibleWave 3 is 2.52× Wave 1.
Strategic degreePossible bearish Wave 2 crest

Strategic degree uses a 15.9% weekly closing-price reversal threshold.

Primary degreePossible Wave 3 advancing

Primary degree uses a 10.0% weekly closing-price reversal threshold.

Tactical degreePossible Wave 3 advancing

Tactical degree uses a 7.0% weekly closing-price reversal threshold.

Active swing 65.7%

20 weeks · Forming

Nearest confirmed support 102.17

Pivot from 2026-04-24

Nearest confirmed resistance 188.67

Pivot from 2026-01-02

30-week trend 137.34

Price is 23.3% from trend

Fair Value reference 211.84

Price is -20.1% from Fair Value

52-week range position 75%

66.57 low · 203.91 high

03 · Supporting evidence

Where the evidence agrees or disagrees

5 of 7 available readings support the upward wave interpretation; 1 lean against it. Agreement adds context, but does not guarantee the next move.

71% directional agreement

The other readings support this direction. 5 readings support the selected direction; 1 lean against it.

Trend

Price is holding above its 30-week trend.

23.3% above trend
Cycle pressure

The medium-term pressure curve is not rising.

Cresting
Cycle alignment

Cycle lengths are not moving in one clear direction.

Mixed
Relative strength

Outperforming its benchmark

+0.2
Market activity

Participation is supportive

+58.2
Market dynamics

Price and volume behaviour is supportive

+0.5
30-week momentum

Medium-term momentum is positive

+82.1
Balance of readings Constructive

5 constructive, 1 weak and 1 neutral measures.

Agreement describes direction among the readings. It does not necessarily support the selected wave count.

Market activity

Whether participation is supporting the move.

Participation is supportive. This supports the upward wave view.

Relative strength

Performance against the market benchmark.

Outperforming its benchmark. This supports the upward wave view.

30-week momentum

The pace of the medium-term price move.

Medium-term momentum is positive. This supports the upward wave view.

Market dynamics

A separate scale prevents this lower-range measure being hidden by relative strength.

Price and volume behaviour is supportive. This supports the upward wave view.

04 · Cycle timing

What cycle timing adds

Cycle estimates help describe timing. They do not set a date for the next price turn.

Cycle pressure is near a high and starting to turn. Watch whether price and momentum also weaken.

Cycle repeat scores range from 0 to 18/100. Low scores mean the past rhythm is irregular, so the projected weeks deserve less weight.

Pressure phaseCresting

Current medium-term pressure direction

Cycle agreementMixed

50/100 constructive · 50/100 risk

Estimated next low1 weeks

Timing estimate, not a dated forecast

Estimated next high13 weeks

Timing estimate, not a dated forecast

Cycle pressure

Above zero is positive pressure; direction matters more than the absolute number.

Shorter and longer cycles

The thick line is the blended reading; thinner lines show 20, 40 and 80-week components.

An observed cycle is the repeat found in past prices. The repeat score describes how clearly it appears. FLD is a shifted price reference used to check a turn. Low timing scores can coexist with a positive price-cross check.

Typical / observed cycle10w / 8w
Current phaseFalling
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough4w
Possible next low2–6w
Typical / observed cycle20w / 25w
Current phaseCresting
Repeat score0/100
Price-cross check (FLD)Crossed Up
Since last trough24w
Possible next low0–8w
Typical / observed cycle40w / 45w
Current phaseRising
Repeat score2/100
Price-cross check (FLD)Crossed Up
Since last trough19w
Possible next low17–35w
Typical / observed cycle80w / 100w
Current phaseTroughing
Repeat score18/100
Price-cross check (FLD)Crossed Up
Since last trough15w
Possible next low42–128w
05 · Risk

Risk behind the price move

Wave structure is easier to judge when drawdown, volatility and participation are visible beside it.

Risk in context

How much room price has to move

Price is 49.6% below the highest weekly close in the stored history. It is 17.0% below the 52-week high. The two figures use different reference points.

Largest contributors to the risk score

  • Trend extension

    Price is 23.3% above the 30-week trend; large positive gaps increase snap-back vulnerability.

  • Cycle rollover

    Medium-term cycle pressure is cresting.

  • Multi-cycle risk

    Hurst risk alignment is 50/100.

Downside risk check

Watch

43/100
Wave maturity0/25
Trend extension20/20
Range position0/15
Cycle rollover15/15
Multi-cycle risk8/15
Count instability0/10
Event proximity0/10

This score combines the risk checks shown here. A higher score means more warning signs, not a measured probability of a fall.

52-week low66.57
52-week high203.91
Annualised volatility52.5%

Based on the latest 26 weekly returns

Average weekly range9.5%

Average high-to-low range over 13 weeks

Current drawdown-49.6%

From the highest close in the stored record

Latest volume98%

Of its trailing 20-week average

Drawdown history

Distance below the highest prior weekly close.

Realised volatility

Annualised variability of the latest 26 weekly returns.

Relative volume

Weekly volume as a percentage of its 20-week average.

06 · Market context

Sector trends and upcoming events

Compare the pattern with other stocks in the sector, then check whether an event could change the price picture.

Sector breadth

Most analysed peers have an upward wave count. That agrees with this report’s upward interpretation.

67% constructive

16 of 24 analysed peers have a leading upward wave pattern.

38% have improving cycles Breadth shows whether peers share the structure. Cohort outcomes use non-overlapping, point-in-time trend and momentum states from the same sector and report benchmark excess return when matching benchmark bars exist; they are context, not a backtest of the Elliott count.
Earnings and options

Check the upcoming earnings date

Earnings: 2026-10-28 · about 7w away

Options: Bullish · 45/100 conviction · ±4.8% expected move

Stored options pressure is bullish with 45/100 conviction.

These are the latest stored event readings. Missing earnings or options data does not mean that event risk is absent.
Peer-state horizonNon-overlapping samplesPositiveMedianMedian excess vs QQQMiddle 80% of returns
4 weeks77354%0.6%0.1%-7.8% to 8.4%
13 weeks29052%0.8%-1.7%-13.6% to 17.2%
26 weeks16560%3.1%-4.2%-16.8% to 25.9%
07 · History

What happened after similar readings

After similar readings, the middle 4-week return was -1.1% across 72 completed outcomes. The range below shows how far individual outcomes differed. Overlapping weeks are not independent tests of this wave count.

73 similar weekly states

Typical return after a match

Median outcome after each matching historical week.

4w
-1.2%
13w
-0.5%
26w
4.7%
HorizonMatchesPositiveMedianRange
4 weeks 72 47% -1.2% -49.1% to 25.0%
13 weeks 70 49% -0.5% -47.3% to 22.8%
26 weeks 70 57% 4.7% -41.8% to 36.4%

Overlapping historical matches are descriptive context, not independent observations or a forecast.

Data quality, rules and limitations
Evidence quality100/100

This measures usable history, indicator coverage and confirmed swing points. It does not measure the chance of the scenario succeeding.

Weekly history
100/100
Indicator coverage
100/100
Confirmed structure
100/100
Model ewc-2.1.0 · as of 2026-09-11 · only the final active pivot is provisional; confirmed pivots are retained.
How the count is built

Rules and data notes

  • Swing points use weekly closes and a 10.0% adaptive reversal threshold.
  • The final swing is provisional until the reversal threshold is met.
  • Candidate counts must pass the Wave 2 origin, Wave 3 progression/length and Wave 4 overlap rules when those waves are present.
  • Fibonacci proportions and alternation rank valid candidates but never rescue a hard-rule failure.
  • Primary and alternate evidence weights compare admissible counts; they are not probabilities.
  • Nominal Hurst periods adapt to observed weekly rhythm. Future windows include measured timing uncertainty and require FLD or price confirmation.
Audit trail

Recent swing points

Dates and prices for the recent swings. The final point can still move.

DateStatusTypePriceMoveDuration
2024-11-15 Confirmed Low 189.64 -43.6% 18 weeks
2025-01-10 Confirmed High 218.22 15.1% 8 weeks
2025-05-23 Confirmed Low 127.99 -41.3% 19 weeks
2025-07-25 Confirmed High 187.01 46.1% 9 weeks
2025-08-08 Confirmed Low 158.44 -15.3% 2 weeks
2025-10-03 Confirmed High 193.89 22.4% 8 weeks
2025-11-07 Confirmed Low 159.14 -17.9% 5 weeks
2026-01-02 Confirmed High 188.67 18.6% 8 weeks
2026-02-13 Confirmed Low 93.00 -50.7% 6 weeks
2026-04-17 Confirmed High 119.68 28.7% 9 weeks
2026-04-24 Confirmed Low 102.17 -14.6% 1 weeks
2026-09-11 Forming High 169.31 65.7% 20 weeks

Chart guide

Evidence context