Model Buy Signal: 82.61 Stop: 78Looking for a reversal to complete a wave up toward 92 and 98
Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets. The model is a Geometric Markov Model : Focuses on reversal and continuation wave structures
In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal sine wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current sine wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For questions or more information feel free to contact me in the comment section or via private chat
1INCY trade ideas
Bottom FishingLong after uptrend and break from falling wedge
There are several faling wedges in the yearly chart
Falling wedges are bullish and can signal a reversal
Price must break up and out in a confirmed, strong uptrend.
This stock made a new bottom Friday and could possibly make another one, or more, so maybe just one to keep an eye on if interested..
In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.
As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
INCY Bullish If support doesnt breakCurrently 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.
Incyte Corp on reversal watchlist
Today may not be the day for a reversal, but if this support level holds we could see a nice move higher.
Nice ascending channel formed.
$90 top of horizontal range
Earnings Transcript
Total product and royalty revenues of $579 million (+24%) in 4Q 2019 and $2.1 billion (+22%) for the full year 2019; Jakafi® (ruxolitinib) revenues of $466 million (+23%) in 4Q 2019 and $1.7 billion (+21%) for the full year 2019
Full year 2020 Jakafi net product revenue guidance $1.88-$1.95 billion
Successful outcome of TRuE-AD2 Phase 3 trial of ruxolitinib cream in patients with mild-to-moderate atopic dermatitis; TRuE-AD1 results expected in the first quarter of 2020
Conference Call and Webcast Scheduled Today at 8:00 a.m. EST
Incyte (Nasdaq:INCY) today reports 2019 fourth quarter and year-end financial results, announces 2020 guidance and provides a status update on the Company’s development portfolio.
"Revenue growth continues to be very strong, driven by robust demand across all three indications for Jakafi," stated Hervé Hoppenot, Chief Executive Officer, Incyte. "As we enter 2020, we have multiple opportunities for additional growth. We recently announced successful initial results from the Phase 3 TRuE-AD program, which we plan to include as part of the NDA in the fourth quarter of 2020 seeking approval of ruxolitinib cream for the treatment of patients with mild-to-moderate atopic dermatitis. We also look forward to the FDA decisions on the potential approvals of pemigatinib and capmatinib later this year. The recent progress made within both oncology and dermatology, as well as the recently announced MorphoSys collaboration for tafasitamab, positions Incyte very well as we deliver on our objectives for diversification and growth."
INCY ready for a recovery? There was a steep drop 3 days ago, and the stage is being set for a return to the mean because:
1. The asset has spent three days outside of the Bollinger Band. It's been out in the cold for too long and needs some warmth right now
2. TD Sequential candles 7 and 8 are dojis. The next candle will either be a doji TD #9 or a bullish TD #1 i.e. probably won't hurt to get in now.
Entry at 77.14
Exit before middle of Bollinger Band or 20MA (I am going with 88 in my paper trading account)
Stop Loss: 75.12
$INCY Bullish action pre earnings in Incyte Indicators all bullish pre earnings and a possible noteworthy reversal on the cards. Like all BIO stocks there is always a risk of negative news related moves.
Average analysts price target $93 | Overweight.
Oct 16th Incyte reports positive results for late stage trial in GVHD drug.
Company profile
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib). The company was founded by Roy A. Whitfield in April 1991 and is headquartered in Wilmington, DE.
INCY t.a. & set upINCY is rated "strong buy" doesn't mean too much, but price is showing signs of an overall oscillating pattern with peaks forming near a common RSI level around 60. Price is also trading above the SMA200 on the daily chart, signaling potential bullish movement. Friday's close created a large Bullish Candlestick that broke above & closed above both the SMA50 and the SMA100. Looking for intraday momentum this morning to signal a confirmation that the price will continue to uptrend above the SMA50 & SMA100 in the short term.
A possible entry would be above Friday's close of 81.21 and is showing signs of bullish momentum on the 5min intraday chart
Stop could be set at 80.76 @ -1%
Exit could be when RSI reaches 60 @ +3%
Risk/reward ratio is optimal @ 3:1
INCYTE CORPORATION (INCY)Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; 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 in Phase III clinical trial for steroid-refractory acute graft-versus-host-diseases (GVHD); and Phase II trial for the treatment of essential thrombocythemia and refractory myelofibrosis. In addition, the company engages in the development of itacitinib, which is in Phase III clinical trial to treat naïve acute and chronic GVHD, as well as Phase I/II clinical trial in combination with osimertinib for non-small cell lung cancer (NSCLC); and pemigatinib that is in Phase II clinical trial for treating bladder cancer, cholangiocarcinoma, and 8p11 myeloproliferative syndrome, as well as a pivotal program for solid tumors with driver activations of FGF/FGFR. Further, it is involved in developing INCMGA0012 that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer. Additionally, the company develops Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Jiangsu Hengrui Medicine Co., Ltd.; Merus N.V.; Calithera Biosciences, Inc; MacroGenics, Inc.; Syros Pharmaceuticals, Inc.; and Innovent Biologics, Inc., as well as BriaCell Therapeutics Corp. for treating cancer. The company was founded in 1991 and is headquartered in Wilmington, Delaware.