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Downtrend Broken Resist.Archive
- 11/8/2024 -
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Incyte (INCY) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second consecutive positive week for the Incyte (INCY). During the week, the INCY gained 7.52 points, or 9.88%, and closed at 83.65 on Friday, November 8, 2024. Weekly volume was 10% above average.
INCY is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See INCY long-term trend chart]
A long-term downtrend had started on January 26, 2023 at 86.29 and reached 50.27 on October 31, 2023. INCY lost 36.02 points, or 41.74%, in 39 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (50.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. INCY may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See INCY medium-term trend chart]
A medium-term uptrend had started on April 25, 2024 at 50.35 and reached 83.95 on November 8, 2024. INCY gained -33.60 points, or -66.73%, in 28 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See INCY weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 17, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See INCY short-term trend chart]
A short-term uptrend had started on October 10, 2024 at 64.59 and reached 83.95 on November 8, 2024. INCY gained -19.36 points, or -29.97%, in 29 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern.
 Daily Technical Indicators: [See INCY daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since October 28, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
The distance between the Bollinger Bands (30.46%) is close to one year high (25.58%). It is 160.30% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See INCY candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.
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