INCYTE CORP (INCY) Stock Technical Analysis
NASDAQ:INCY • US45337C1027
We assign a technical rating of 6 out of 10 to INCY. In the last year, INCY was one of the better performers, but we do observe some doubts in the very recent evolution.
- In the last month INCY has a been trading in the 97.25 - 109.48 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- Looking at the yearly performance, INCY did better than 75% of all other stocks.
- INCY is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so INCY is lagging the market slightly.
- INCY has an average volume of 1968880 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
- INCY is an average performer in the Biotechnology industry, it outperforms 62% of 521 stocks in the same industry.
Although the technical rating is only medium, INCY does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 101.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 101.27, a Stop Loss order could be placed below this zone.
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56.76
When analyzing the support we can see 3 important areas.
- A support zone ranging from 98.77 to 101.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @61.64 from a trend line in the weekly time frame.
- Support @57.33 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 101.28 to 102.29. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 108.26 to 108.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 110.57 to 110.57. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for INCY is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for INCY is down. |
| ChartMill Relative Strength | 75.84 | POSITIVE | INCY has a high relative strength, it outperformed 75.84% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of INCY is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of INCY is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of INCY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.47 | NEUTRAL | The RSI value for INCY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.17 | NEGATIVE | The MACD value suggests INCY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 26.14 | NEUTRAL | The Stochastics value for INCY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.49 | MEDIUM VOLATILITY | The ATR as a percentage value for INCY suggests some volalility. |
| Average Directional Index/ADX (14) | 9.44 | NEGATIVE | The low ADX value for INCY suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 102.30 | 98.76 | 3.54 (3.46%) | 25.00% |
| An entry @102.30. This is a Buy Stop order right above the resistance zone. | An exit @98.76. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 3.54 points, which is 3.46%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.87%. |
- The distance between exit and entry is rather small compared to the average daily movement of INCY. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
101.27
+1.18 (+1.18%)
INCYTE CORP / INCY FAQ
What is the technical rating for INCY stock?
ChartMill assigns a technical rating of 6 / 10 to INCY.
What is the current trend direction of INCYTE CORP (INCY) stock?
The current trend direction for INCYTE CORP (INCY) is Bullish.
What is the RSI signal for INCYTE CORP (INCY) stock?
INCYTE CORP (INCY) has an RSI value of 48.4715. This indicates that the stock is currently neutral.
Can you provide the MACD signal for INCYTE CORP?
The MACD indicator for INCYTE CORP (INCY) has a value of -0.167216, indicating a bearish trend.
What is the short term momentum for INCY stock?
The short term momentum for INCYTE CORP (INCY) is negative.