Market Overview

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


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. 




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

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