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).