Market Overview

Incyte Has Quietly Risen 13 Percent In The Last Two Weeks, And That Uptrend Looks Like It Will Continue

Share:

The following stock has been highlighted by VantagePoint Software, an artificial intelligence platform that provides market forecasts 1-3 days in advance. For a free demo click here

Incyte Corporation (NASDAQ: INCY) took it on the chin in April, as the company announced that its Phase 3 study for an experimental combo with Merk & Co., Inc. (NYSE: MRK) had failed to reach its primary endpoint. Shares of INCY close down nearly 23 percent that day at $64.02, and the stock has been mostly rangebound since then. 

But according to VantagePoint's two main indicators, a predicted moving average and predicted neural index, the stock is in a full on uptrend. 

A Bullish Crossover

In the last two weeks INCY has risen nearly 13 percent. On August 13, the software's predicted moving average (the blue line) crossed above the simple 10-day average (black line). This indicates a change in trend. On top of that, the neural index at the bottom of the chart shifted to green, which forecasts likely near-term upside in a stock. Combined, these two indicators make the case for bullishness even strong. 

Here's what VantagePoint's indicators look like on a chart. 

 

 

capture_567.png

VantagePoint Software is a content partner of Benzinga. To see what their indicators say about other stocks, futures, commodities or ETFs, or to get a free demo, click here

Posted-In: vantagepointLong Ideas Technicals FDA Trading Ideas General

 

Related Articles (INCY + MRK)

View Comments and Join the Discussion!

Morgan Stanley Starts Coverage Of Electrical, Multi-Industry Stocks Threatened By Tech Advances

Endava's Quiet Period Ends: What The Street Thinks