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Look for Shares of Incyte to Potentially Pullback after Yesterday's 2.62% Rise

By Amy Schwartz

Incyte (NASDAQ:INCY) traded in a range yesterday that spanned from a low of $118.38 to a high of $121.62. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $121.50 on volume of 610,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, shares of Incyte have traded between a low of $11.76 and a high of $153.15 and are now at $121.02, which is 929% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.2%.

Keywords: rebounders Incyte

Ticker(s): INCY