ICPT trade ideas
A Long set up for ICPT, albeit a tad risky...On this Weekly chart the Down Channel is of some concern for this Stock along with poor growth in net income, and weak growth in its earnings per share along with other negative factors. However a break in the downtrend and the news surrounding this company today and ongoing this week could provide an opportunity to Buy this stock and hold it until the close on Thursday (Day Traders). 1st Resistance is at 174.18 then 194.85 and strong Resistance at 207.49. I will be placing my stop just below the Trendline Support.
ICPT - A speculative betDon't bet the farm, because this company's success is still hinged on FDA approval. But, if you can tolerate the risk, there will be a fine entry point in the near future. Clearly, we are short term overbought, which can be seen on the RSI. And you may have noticed the momentum has kind of sputtered out over the past couple days. I suggest waiting to buy at the 200 daily moving average or the 50 daily moving average...the 50 if it falls back quickly, and the 200 if it falls back slowly. I see a nice looking 50/200 "golden cross" in the near future here. Preferably, the RSI will be under 70 for entry. Don't chase! My guess is withing 1 month a good buying opportunity will present itself.
