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SmarTrend Watching for Potential Pullback in Shares of Incyte Corp After 4.84% Gain

By Nick Russo

Incyte Corp (NASDAQ:INCY) traded in a range yesterday that spanned from a low of $70.77 to a high of $74.16. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $71.95 on volume of 877,000 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 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.

In the past 52 weeks, shares of Incyte Corp have traded between a low of $60.22 and a high of $153.15 and are now at $73.60, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.8%.

Keywords: rebounders incyte corp

Ticker(s): INCY