INCY is rated "strong buy" doesn't mean too much, but price is showing signs of an overall oscillating pattern with peaks forming near a common RSI level around 60. Price is also trading above the SMA200 on the daily chart, signaling potential bullish movement. Friday's close created a large Bullish Candlestick that broke above & closed above both the SMA50 and the SMA100. Looking for intraday momentum this morning to signal a confirmation that the price will continue to uptrend above the SMA50 & SMA100 in the short term.
A possible entry would be above Friday's close of 81.21 and is showing signs of bullish momentum on the 5min intraday chart
Stop could be set at 80.76 @ -1%
Exit could be when RSI reaches 60 @ +3%
Risk/reward ratio is optimal @ 3:1
A possible entry would be above Friday's close of 81.21 and is showing signs of bullish momentum on the 5min intraday chart
Stop could be set at 80.76 @ -1%
Exit could be when RSI reaches 60 @ +3%
Risk/reward ratio is optimal @ 3:1
Comment:
stop executed 80.76 @ -1%