INCY ready for a recovery?
Aktualisiert
There was a steep drop 3 days ago, and the stage is being set for a return to the mean because:
1. The asset has spent three days outside of the Bollinger Band. It's been out in the cold for too long and needs some warmth right now
2. TD Sequential candles 7 and 8 are dojis. The next candle will either be a doji TD #9 or a bullish TD #1 i.e. probably won't hurt to get in now.
Entry at 77.14
Exit before middle of Bollinger Band or 20MA (I am going with 88 in my paper trading account)
Stop Loss: 75.12
1. The asset has spent three days outside of the Bollinger Band. It's been out in the cold for too long and needs some warmth right now
2. TD Sequential candles 7 and 8 are dojis. The next candle will either be a doji TD #9 or a bullish TD #1 i.e. probably won't hurt to get in now.
Entry at 77.14
Exit before middle of Bollinger Band or 20MA (I am going with 88 in my paper trading account)
Stop Loss: 75.12
Anmerkung
This was due to a failed drug study, but they already have a similar drug in the market that can be improved. investors.com/news/technology/incyte-stock-crashes-after-biotech-company-graft-vs-host-drug-fails/Investors clearly overreacted, but there is a reason the stock climbed from $78 in October 2019 to $96 in December 2019, and it is not solely because of the failed drug study
Anmerkung
And boom! Off we go. But it took a while to happen. Also, the volume is not really great. Revised target for taking of 50% is now $84.
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