Although there is a reverse head and shoulders formation on the chart, the targets are drawn according to Fibonacci. We need closes above the wedge resistance. Pay attention to the wedge resistance in the weekly time frame.
Let's look for closes above the wedge resistance in the daily time frame. Pay attention to the wedge resistance in the weekly time frame. We can accept the wedge indicator as a follower.
INCY has been basing for a few months under this $66 level
Keep an eye out for the exit of the stage 1 base into a stage 2 breakout through $66 to the upside
On this 5 Month Daily Chart of Incyte you can clearly see the Bearish Trend that included the last 6 weeks of each daily candle trending below the 7 Day EMA until just the last 2 trading days where the bottom was made and INCY finally broke above the 7 day EMA on very good strenth with much higher volume than anthing seen during this downtrend. The RSI for the...
Pause Rebounder Stock
Market Watch:
Because until equity markets begin to notice. it’s unlikely politicians will feel compelled to act. Political brinkmanship will fuel market volatility — the VIX (VIX) trades to 40 in 2023; SPX retests the 3,800 floor. The similarities to 2011 (where arguably Democrats and Republicans were more ‘reasonable’ than in 2023) are...
The PEAD projected a Bullish outlook for $INCY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 85.71%.
The PEAD projected a Bearish outlook for $INCY after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
Bullish
Fundamental
- High inflationary Macro environment / still no fear form retail sentiment
- Decent Accumulation/Distribution
- Decent PE
- Decent PEG
- Decent P/FCF
- Top Sector / Industry
- Fundamental sound company with a Cup and handle play / short term
Technical
- Momentum Theory Indicator - momentum broke out downtrend
- Price action formation (...
I expect INCY to show bearish traits following this post
As price moves along the bearish red trend line
This bearish action may stop along the dotted white line, this would be the better entry for INCY
The PEAD projected a Bullish outlook for $INCY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $74.62
Target Price: $73.86
Stop Loss: $75.89
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $73.86
Target Price: $75.01
Stop Loss: $71.95
very nice bounce off extreme support trendline here on INCY, we can clearly see a support cluster building up here.
higher low RSI bounce from 2018 support, 2 trendline supports, short trap. what more could we ask for when looking for a longterm position?
potential price targets for next year are 80-96-110.81-134.41
like and follow for more 💘
Stop at 67.18
RSI looks like found support on the 50.
Attempt of bearish cross with consolidation.
Price action is not so positive, as we had a higher high and higher low.
A bit risky.
