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Bearish Moving Average Cross by Incyte (INCY)

By Shiri Gupta

Incyte (NASDAQ:INCY) shares have crossed bearishly below their 10-day moving average of $119.84 on a volume of 556K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Incyte has traded in a range of $11.76 to $153.15 and is now at $118.76, 910% above that low. The 200-day and 50-day moving averages have moved 0.92% lower and 0.2% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Incyte. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Incyte in search of a potential trend change.

Keywords: moving crosses Incyte

Ticker(s): INCY