4INCY trade ideas
NEWBIE LONGnew to the whole stocks,3 months in. let me know what you guys think. thinking of getting in if it doesn't go past 113.50 wait for bounce to pass 117 then im in. looking at about minimum 10% gain. any tips advice, Id really appreciate it . Again im new and first idea ive come up with
NEEBIE long new to the whole stocks,3 months in. let me know what you guys think. thinking of getting in if it doesn't go past 113.50 wait for bounce to pass 117 then im in. looking at about minimum 10% gain. any tips advice, Id really appreciate it . Again im new and first idea ive come up with
Monthly setup is very strong (bullish)MACD cross with RSI in bull range. Should test major DTL (125+)
Incy - Long - ContinuationI will be paying a lot of attention to biotech throughout 2017 with trumps victory, i believe he may have opened the door on this sector. there are many reasons to support this please do some research if you are interested. There are quite a few midcap stocks on my list. Incy here is just one of them which saw a near 20% rise on trumps win and looks to be forming a pennant for continuation
More downside for INCYAfter a huge run, Incyte Pharmaceuticals is tired and this flag suggest more downside to come.
INCY - Short from 76.93 INCY has very high (3412) P/E ration & in the technical side INCY is forming a downward pennant in longer frame & a upward channel.
Both suggesting a decline, money-flow is showing neg-divergence & running strongly downward. We think it will decline around 60 or lower
You can check our detailed analysis on INCY in the trading room/ Executive summery link here-
www.youtube.com
Time Span: 13:00"
Suggestion date: Aug 17th (before market)
Trade Status: Opened Aug 17th
$INCY - testing support trendlineEarnings were good, guidance raised, analysts raising PT's. Nice entry here for a starter.
Incyte Corp: Looking for Further Push DownsideFriends,
Notes on chart. I'm looking for the channel break to be honest. Which is the bigger picture. Went short personally @ 103.70's (After an intraday retest of the highs failed and shorts continued on 28.04.2015.)
Tom
INCY approaching $100 INCY isn't quite there yet - as a good linear trending stock. The daily 50ma is beginning to look like it may be offering consistent support but it is early days.
There was congestion around the $50 and daily 200ma zone for several months in the middle of 2014 - which was some way off the February 2014 high of just above $70. Towards the end of last year price broke above this area with previous resistance becoming support. Since then we can see signs of a tentative trend beginning to form.
Yesterday's bar confirmed a bull flag - and price also broke out on higher volume. The bar was extremely bullish, too. However, the $100 figure is now too close to consider a long position at the moment - especially taking into account price action around the $50 half figure. But there is some way to go before the 2000 high of $145 so there is time for a better trend to develop here. If it does I will reconsider INCY then.
RE-ACCUMULATION ON INCY1. Relative Strength Analysis: INCY has outperformed both the SPY and XLV (Health Care Sector Spyder) over YTD, 6 and 12 month periods.
2. Wyckoff re-accumulation, 2nd break of CREEK after a successful test of supply in the form of the "Back Up to the Creek" (BUC).
3. A longer term cup n handle pattern, with the handle shown as a flag pattern after the breakout.
4. The best entry would have been on the breakout of the flag on above average volume, but I missed that entry. So there are two primary entries. 1st, enter at previous closing price 82.42; or 2nd, enter at re-test of CREEK at 78.89, or even to the flag breakout level at 77.05. 1st Target at 110.54, based on a breakout of the flag pattern. Initial stop based on an entry back to the flag breakout would be a close below 69.58, for the other 2 entry levels the stop is at a close below the last major swing low at 73.02. I prefer the first entry because on breakouts when they are strong you rarely get a good pullback entry.
Bull Flag Breakout initiated on Friday. Next leg up?Simply this next leg post breakout recently may not be completed. Breaking out this week could still be very powerful. Strong expanding volume.
