prossi

INCY: sold ahead of earnings, looking 4 re-entry after reassessm

NASDAQ:INCY   INCYTE CORP
Not sure if the BLUE support is gonna hold this time around. Might eventually sets on ~9yr-old support (note chart is in Log scale). Monthly chart also showing massive MACD divergence. As a result, sold my position to see how is gonna play out in the ST             . Also binary outcome drug data expected this year, with unknown timing. However, INCY             is top pick at Credit Suisse and has bear case scenarios (considering other banks too) in the $65-70 range. But the massive MACD divergence on the monthly (although not showing up on the weekly..uhm?) + very long bull run made me reconsider the position I opened at $94.5 a couple of weeks ago, so I'll just sit aside for the time being. The thing is, where's there risk, there is opportunity: I am cognizant that by sitting aside I might be missing out on some upside here. I'll wait for a reversal of the downtrend to jump on, obv missing out on the first bit (provided it doesn't coincide with a spike up 100% any positive drug data released later in the yr).
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