Looking for rejection off support/resistance line to resume bullish continuation and break through of the double top. Not a likely buy but a good one for the watchlists
Currently INCY is at a long term support and if a rejection occurs, then it will be a good opportunity to buy in and exit/move stop up to meet the triple top resistance. Looking for bounce off the 200 ema down to same support and then resumption to show a nice bullish pattern. Stop loss would be at the support below the current one which will lead to about a 10% loss.
JNJ has been aiding in developing their own covid vaccine and will have phase 2 FDA approval mid to end of September which can lead to positive growth overall in this strong company. TA shows that price is forming an ascending triangle which has a bullish sentiment and is projected to breakout around mid next year. Good potential LEAP or Holding of shares long...
If price rejects 19.93 price and returns to bottom of channel, good entry point. Exit point would be 20 or higher, if price breaks through ATH, stoploss will be moved up to 19 and will trailing stop the run up. Stoploss will initially be set to 14.21 since that is past the bottom of the channel and allows wiggle room for price action to decide a direction....
