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Incyte Corp Set to Possibly Rebound After Yesterday's Selloff of 4.08%

By James Quinn

Incyte Corp (NASDAQ:INCY) traded in a range yesterday that spanned from a low of $65.56 to a high of $68.50. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $67.96 on volume of 461,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Incyte Corp has traded in a range of $58.33 to $153.15 and is now at $66.07, 13% above that low. The 200-day and 50-day moving averages have moved 0.71% lower and 0.45% lower over the past week, respectively.

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

Keywords: rebounders incyte corp

Ticker(s): INCY