Incyte Corp. has overlapping white candles on a strong move out of a short-term bottom. The overlaps are caused by pre-market open selling that gaps the stock down. The run up shows strength within the buy side.
The prices are making a pullback on the 200 daily SMA. The IN area in my opinion is the green box with tight stop loss due the RSI value. From the green box LONG until the prices will be on the 200 daily SMA
double bottom bullish divergence.. island reversal somewhere to the end of the year? need to open once above $80 without touching the gap between.
1W RSI was approx in 2008 as low as in May at the current year.
I've been posting a lot of Bullish ideas recently, however due to the market instability, negative fundamentals, and recent failure to move past a key resistance point for the Indices, I've decided to post a short idea I know I could very possibly use myself if the market proves to be bearish.
This stock, INCY, is ridiculously horrible. It's truthfully...