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Archive
- 5/10/2024 -
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Incyte (INCY) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Incyte (INCY). During the week, the INCY dropped -0.70 points, or -1.30%, and closed at 53.06 on Friday, May 10, 2024. INCY was trading at average weekly trading volume.
 Long-term trend: [See INCY long-term trend chart]
A long-term downtrend had started on June 28, 2021 at 88.26 and reached 50.27 on October 31, 2023. INCY lost 37.99 points, or 43.04%, in 122 weeks. The chart has formed a Rising Wedge chart pattern. The downtrend support line (74.90) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 support in a long-term trend.
 Medium-term trend: [See INCY medium-term trend chart]
A medium-term downtrend had started on January 4, 2024 at 67.36 and reached 50.35 on April 25, 2024. INCY lost 17.01 points, or 25.25%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (53.15). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See INCY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. 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 April 25, 2024 at 50.35 and reached 54.92 on May 7, 2024. INCY gained -4.57 points, or -9.08%, in 12 days. The price is now at the 40.70% retracement level.
 Daily Technical Indicators: [See INCY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 29, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (52.72) comes close to the price (53.06). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
3 |
| Industry |
Biotechnology |
28 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
54.92 |
| High Date |
05/07/2024 |
| Low |
52.81 |
| Low Date |
05/10/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
50.35 |
| Low Date |
04/25/2024 |
| High |
54.92 |
| High Date |
05/07/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Test Resistance |
| Resistance |
53.15 |
| Support |
49.16 |
| High |
67.36 |
| High Date |
01/04/2024 |
| Low |
50.35 |
| Low Date |
04/25/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
86.29 |
| High Date |
01/26/2023 |
| Low |
50.27 |
| Low Date |
10/31/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
88.61 |
| Support |
74.90 |
| High |
88.26 |
| High Date |
06/28/2021 |
| Low |
50.27 |
| Low Date |
10/31/2023 |
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