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Incyte Corp - Barchart Chart Of The Day

|Includes:Incyte Corporation (INCY)

The Chart of the Day is Incyte Corp (NASDAQ:INCY). I found the stock by using Barchart to sort the Percentage Advances list for frequency in the last month, skipped the stock that didn't have positive gains for the last week and month and then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/16 the stock gained 68.47%.

INCY is a drug discovery company that is using its expertise in genomics, medicinal chemistry and molecular, cellular and in vivo biology to discover and develop novel therapeutics. The company has three fully-staffed drug discovery programs underway focused primarily on the identification of new small molecule drugs for cancer and inflammation. INCY also has strategic alliances with Lexicon Genetics and Medarex focused on the discovery and development of protein therapeutics or antibodies to treat inflammatory diseases and cancer.

(click to enlarge)Click to enlarge

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 56% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 26.81% in the last month
  • Relative Strength Index 65.05%
  • Barchart computes a technical support level at 60.99
  • Recently traded at 65.89 with a 50 day moving average of 55.06


Fundamental factors:

 

  • Market Cap $10.09 billion
  • Revenue predicted to grow 18.80% this year and another 40.80% next year
  • Earnings estimated to decrease 26.50% this year but increase again by 120.90% next year and continue to increase at an annual rate of 83.90% for the next 5 years
  • Wall Street analysts issued 7 strong buy, 7 buy, 1 hold and 2 under perform recommendations on the stock
  • Financial strength is C+


Stock that skyrocket quickly can reverse themselves just as quickly and should be monitored closely. Use the 50 day moving averages for signs of weakness and the 100 day moving average as an exit point.

Stocks: INCY