INCY Short:SMA and EMA crossed. MACD crossed. The technical setup is looking very nice assuming you get a decent entry.
Stop Loss: $77.29
Exit 1: $72.27
Exit 2: $68.02
4INCY trade ideas
INCY Overlapping CandlesIncyte Corp. has overlapping white candles on a strong move out of a short-term bottom. The overlaps are caused by pre-market open selling that gaps the stock down. The run up shows strength within the buy side.
INCYTE CORP. TREND INVERSION IS POSSIBLEThe prices are making a pullback on the 200 daily SMA. The IN area in my opinion is the green box with tight stop loss due the RSI value. From the green box LONG until the prices will be on the 200 daily SMA
[INCY] phase 1Despite the 30MM has negative slope, we see a 6 months support (not counting this week). If the price break the resistant, buy!
$INCY long.double bottom bullish divergence.. island reversal somewhere to the end of the year? need to open once above $80 without touching the gap between.
1W RSI was approx in 2008 as low as in May at the current year.
$INCY - good news in recapping the SMAsRecapping the SMA's is a good sign. INCY has been consolidating since April and is has been trading in a healthy range.
$INCY - consolidating after breaking the downtrend. $INCY - consolidating after breaking the downtrend. It is going nicely through support and resistance consolidating. When it will break higher, probably will first try to recapture the 200 SMA
Short INCY, hitting upper resistanceINCY is hitting upper resistance of a falling long-term trendline
INCY: Bearish leading upto the earnings on 7/31H&S forming and all other trends and indicators are supporting the price levels.
Good Short Idea!!Hey guys,
I've been posting a lot of Bullish ideas recently, however due to the market instability, negative fundamentals, and recent failure to move past a key resistance point for the Indices, I've decided to post a short idea I know I could very possibly use myself if the market proves to be bearish.
This stock, INCY, is ridiculously horrible. It's truthfully an $8 stock disguised as $80. It's hard terrible luck in it's past and now is far from any different. Even excluding negative EV/EBITDA and terrible EPS numbers, this is still a fantastic technical setup.
Stock has super bearish 30-minute and Daily charts, 5 Day MA seems to be moving down and it's formed a nice downward channel.
Profit targets are around $80 (Super conservative), $76.5(Moderate), and $70 (Aggressive). Depends on time-frame of stock, shouldn't take that long of a move, maybe 2 weeks at most. Another profit target would be when the daily RSI hits around 25-28, seems to be a support point.
Just figured I'd post this. Remember never to short a stock in a positive, up-trending market, and never go long a stock in a negative, down-trending market. Why take the risk of going against the market when it pays off more to follow the market and increase your risk due to the certainty of the market trend?
Leave questions down below.
INCY: sold ahead of earnings, looking 4 re-entry after reassessmNot sure if the BLUE support is gonna hold this time around. Might eventually sets on ~9yr-old support (note chart is in Log scale). Monthly chart also showing massive MACD divergence. As a result, sold my position to see how is gonna play out in the ST. Also binary outcome drug data expected this year, with unknown timing. However, INCY is top pick at Credit Suisse and has bear case scenarios (considering other banks too) in the $65-70 range. But the massive MACD divergence on the monthly (although not showing up on the weekly..uhm?) + very long bull run made me reconsider the position I opened at $94.5 a couple of weeks ago, so I'll just sit aside for the time being. The thing is, where's there risk, there is opportunity: I am cognizant that by sitting aside I might be missing out on some upside here. I'll wait for a reversal of the downtrend to jump on, obv missing out on the first bit (provided it doesn't coincide with a spike up 100% any positive drug data released later in the yr).
