INCY closes higher for the 4th day in a row
Incyte (INCY) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (INCY as at Aug 10, 2018):
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.
Prices are trading close to a key support level at 63.51.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the close-by swing low at 62.62 where further sell stops could get activated.