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Incyte Crosses Below its 10-day MA (INCY)

By Amy Schwartz

Today, shares of Incyte (NASDAQ:INCY) have crossed bearishly below their 10-day moving average of $83.72 on a volume of 170K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Incyte share prices have moved between a 52-week high of $133.62 and a 52-week low of $11.76 and are now trading 610% above that low price at $83.49 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.9%.

SmarTrend recommended that subscribers consider buying shares of Incyte on May 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.95. Since that recommendation, shares of Incyte have risen 10.4%. 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