INCY closes higher for the 4th day in a row


Incyte (INCY) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
INCY closes higher for the 4th day in a row
INCY rises to highest close since August 2nd
INCY closes within previous day's range
TQ Sentiment
Report Sentiment: 20% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, INCY ended the week 2.22% higher at 64.44 after edging higher $0.06 (0.09%) today on low volume. Today's closing price of 64.44 marks the highest close since August 2nd. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for INCY
Volatility

Friday's trading range was $1.58 (2.47%), that's slightly below last trading month's daily average range of $1.77. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 63.51.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the close-by swing low at 62.62 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Incyte
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
8 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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