Nov. 15 at 8:36 AM
$INCY is currently trading at
$104.15, showing a strong upward momentum with an RSI of 71.22, indicating it is in overbought territory. The price is above both the 30-day moving average (MA30) of
$93.95 and the 50-day moving average (MA50) of
$90.34, signaling bullish sentiment. However, the high of
$109.28 from the last 60 days suggests potential resistance ahead.
Given the current metrics, the directional bias is cautiously bullish but requires careful monitoring due to the high RSI. Suggested entry could be around
$102.50, slightly below the current price to confirm continued strength. A stop loss should be set at
$98.00 to manage risk effectively.
Targets can be set at
$107.00, near the 60D high, and a more aggressive target at
$110.00, should momentum persist.
Monitor for any signs of reversal as the price approaches these targets.
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