Incyte Corp.Incyte Corp. witnessed a rebound after attempting to test the support level at 61.89, to close below the minor resistance 63.05, which is the level that needs to be violated to confirm the current positivity, which will trigger further rises near 62.65 - 65 - 65.61 - 66.43 - 67.40.
The stop-loss lies below 61.40.
the indicators are heading toward the positive side, which confirms the mentioned positive scenario.
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4INCY trade ideas
INCY - Incyte Bullish BreakoutOn this 5 Month Daily Chart of Incyte you can clearly see the Bearish Trend that included the last 6 weeks of each daily candle trending below the 7 Day EMA until just the last 2 trading days where the bottom was made and INCY finally broke above the 7 day EMA on very good strenth with much higher volume than anthing seen during this downtrend. The RSI for the Trend Reversal is showing very good strength and the Money Flow Index has developed a Bullish Divergence to confirm this as well.
My confidence is Very High that Incyte will have a 10-15 % Gain over the next 3 weeks as it gradually moves back up to fill the Gap Down on May 2nd as shown on the Chart.
INCY Buy Opportunity "Pause Rebounders "Pause Rebounder Stock
Market Watch:
Because until equity markets begin to notice. it’s unlikely politicians will feel compelled to act. Political brinkmanship will fuel market volatility — the VIX (VIX) trades to 40 in 2023; SPX retests the 3,800 floor. The similarities to 2011 (where arguably Democrats and Republicans were more ‘reasonable’ than in 2023) are striking
The big date to watch for equities may be May 2.
“Buying healthcare, staples and portfolio convexity is the best way to handle the ‘summer heat,’ which, similar to 2011’s debt ceiling, will begin in May.” That convexity strategy for Evercore consists of option calls — right to buy an asset at a set price by a specific date — on the SPDR S&P Biotech ETF (XBI) and puts — rights to sell — on Invesco QQQ Trust Series I (QQQ).
As for those so-called “pause rebounders,” the Evercore team has screened the Russell 1000 (RUI) for healthcare, biotech and consumer staple stocks which have lagged behind their sector median performance, but have 2023 earnings per share growth above the sector median. "
One of the potential outperforming stock is like to be INCY
Technically:
Cycle Sniper H4 headed North
Clocing Above 76$ resistance will trigger the bullish price action
Target will be: 78, 82, 86 and 90 $
Good Luck'
WATCH $INCY CUP AND HANDLEBullish
Fundamental
- High inflationary Macro environment / still no fear form retail sentiment
- Decent Accumulation/Distribution
- Decent PE
- Decent PEG
- Decent P/FCF
- Top Sector / Industry
- Fundamental sound company with a Cup and handle play / short term
Technical
- Momentum Theory Indicator - momentum broke out downtrend
- Price action formation ( down channel )
- Broke Trend line and rejected
- Above 200MA
- Above POC
- ST ok
- Bullish Candlestick pattern follow through
Entry idea
- For members
Stop loss depending on entry and risk appetite. But always set meaningful stops.
"You miss 100 of all the shots you don't take"
Cheers and happy trading!
another support cluster here!🍿very nice bounce off extreme support trendline here on INCY, we can clearly see a support cluster building up here.
higher low RSI bounce from 2018 support, 2 trendline supports, short trap. what more could we ask for when looking for a longterm position?
potential price targets for next year are 80-96-110.81-134.41
like and follow for more 💘
Bottom FishingPrice is below the bands set on am 80 moving average verses a 20. So the bands are wider and can encompass more price action. Many look at a fall below the bands as bearish as it takes a lot of selling pressure to get price below this setting.
It is definitely not a bullish place to be, but price always returns to the bands, eventually.
Just barely getting out of oversold territory on RSI.
Negative volume is picking up. No recommendation.
The bottom is not always the bottom, but I do feel this is undervalued at this price. Short interest 2.95%. PE 23.9 EPS 3.07. Revenue appears to be growing each quarter. Earnings were 8-3-21
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a drug that is in Phase III clinical trial for steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase III clinical trial to treat naïve chronic GVHD; and pemigatinib that is in Phase II clinical trial for treating bladder cancer, cholangiocarcinoma, 8p11 myeloproliferative syndrome, and Tumor agnostic. In addition, the company engages in developing Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. Additionally, the company develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer, as well as in Phase II clinical trials for patients with non-small cell lung cancer. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Calithera Biosciences, Inc; MacroGenics, Inc.; Merus N.V.; Syros Pharmaceuticals, Inc.; Innovent Biologics, Inc.; Zai Lab Limited; and Cellenkos, Inc., as well as clinical collaborations with MorphoSys AG and Xencor, Inc. to investigate the combination of tafasitamab, plamotamab, and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, and relapsed or refractory follicular lymphoma. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware.
Incyte Signals SELL On 5 Algorithms in 2 DaysIncyte is about to get exciting. Normally, my Precise algorithm signals a BUY or SELL by itself. Three other algorithms signaled SELL at the same time based on the closing price on 7 April and an additional algorithm signaled SELL today. Five of the algorithms signal overbought conditions, while the other signifies a continuation of downward movement. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the Daily chart after a SELL signal occurred. Therefore, this box represents 100% of previous movement upward before the stock finally moved downward. The smaller red box represents 50% of all historical movement upward, before the stock moved downward. The smaller box is more of a precise target for the potential top in this instance.
The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final bottom.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
All statistics and the full analysis are available for free as always at the site below.