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Bearish Moving Average Cross by Incyte (INCY)

By James Quinn

Incyte (NASDAQ:INCY) crossed under its 10-day moving average of $89.39 on a volume of 214K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Incyte have traded between a low of $11.76 and a high of $133.62 and are now at $89.14, which is 658% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.2%.

SmarTrend recommended that subscribers consider buying shares of Incyte on July 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.48. Since that recommendation, shares of Incyte have risen 11.5%. We continue to monitor INCY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Incyte

Ticker(s): INCY