INCYTE CORP (INCY) Stock Technical Analysis
USA - NASDAQ:INCY - US45337C1027 - Common Stock
Overall INCY gets a technical rating of 9 out of 10. Both in the recent history as in the last year, INCY has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, INCY also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 86.92. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 85.22, a Stop Loss order could be placed below this zone.
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When analyzing the support we can see 4 important areas.
- A support zone ranging from 83.10 to 85.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @74.92 from a trend line in the daily time frame.
- Support @59.26 from a trend line in the weekly time frame.
- Support @57.33 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 86.92 to 86.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The short term trend for INCY is up. |
| ChartMill Relative Strength | 83.17 | POSITIVE | INCY has a high relative strength, it outperformed 83.17% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of INCY is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of INCY is above 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) | 59.18 | NEUTRAL | The RSI value for INCY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.54 | NEGATIVE | The MACD value suggests INCY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 41.37 | NEUTRAL | The Stochastics value for INCY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.12 | MEDIUM VOLATILITY | The ATR as a percentage value for INCY suggests some volalility. |
| Average Directional Index/ADX (14) | 37.65 | POSITIVE | The high ADX value value for INCY suggests a strong 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 |
|---|---|---|---|
| 86.97 | 83.09 | 3.88 (4.46%) | 22.41% |
| An entry @86.97. This is a Buy Stop order right above the resistance zone. | An exit @83.09. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.88 points, which is 4.46%. | When investing 22.41% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
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