INCY

[David Randolph]

Incyte Corp (INCY). Formerly known as Incyte Genomics Incorporated. The Group's principal activity is to discover and development of small molecule drugs to treat major medical conditions including HIV, Cancer and diabetes.

Those early 2000 times were really insane. This chart is a good proof of that affirmation:



Altough it's impossible to see on the long term chart, INCY is making higher lows and higher highs since January 2003:



Closing above $7.28 INCY has given a bullish technical signal. It also broke a downtrending channel on the upside. Volume was above average:



I think INCY is a sure play. A conservative play, but sure. Wait a minute: been burned before when I've thought «sure play». There are no sure things in the stock market. If you want sure money, go to work. This is about speculating in stocks, and a man has to know the market is always right and that it has one million ways to take our money.

So, I'll be a buyer at tomorrow's open, but I don't want to see a close below $7.28 in the short term, or I'll run like hell, winning or losing, I don't care.

Everyday we explore and filter the entire US market to come up with the best 3 stocks to buy on the next open. Join our free newsletter, it will take only 10 seconds !

David Randolph
www.3stocksonfire.org

[eliteG]

  Just signed up 2day.  Wo, nice site for technical swing traders like myself, excellent.  Been doin this for 6 years and I was all over INCY yesterday.

Bought it open (6.82).  It was on a technical screen I run and just released magnificent earnings and guidance yet didnt gap?  Good risk with the double bottom and tall white.

Well man, was I happy.  Got my gap today and sold it all (7.57).  +10.99%  1 day rock on.  Originally only sold half but decided that this one was gonna stall here. 

Its jumped clear out of its bollinger bands and got knocked down at the 89ema.  Before anyone laughs I suggest you take a look at this great mvg avg.  It has helped me out a ton.  The only thing I regret is I should have sold it closer to the 89ema.

I do like your play very much.  My feeling on it stalling are keeping me out for now, may jump back in if signals again for me.

[David Randolph]

... at yesterday's open, and good 11% profit, congratulations 

Now I believe you sold early, at least on my chart the stock just made the technical bullish signal when it crossed above $7.28. That's one thing funny about stocks, traders are not pure competitors. You can win 11% and I can win them too, even when I probably bought your stocks.

I've been trading futures for 7 years, it's a complete different game.

Welcome to our website, keep posting your picks, we'll probably share good ideas !

[eliteG]

thanks D

I attached a chart of INCY resis areas and my fibonnacci/BB sell (A).  Would like 2 see a slight tiny candle pull back but this one can definately just continue with another gap.  Goodluck.

hope chart looks good.  The importance of a good looking chart cannot be underestimated.

[Ramsburg]

Hi ElitG,

Your chart looks good
I think the $8.15 level could be the first barrier for this stock...
I'm also thinkin about the double bottom pattern near $6.5, and the range breakout at 7,28... my projections go near $8.00 (for the range breakout target), which is compatible with a barrier on 8.15... but a double bottom could represent major figures on mid-term... what do you think about this point of view ?

best regards

[eliteG]

Hi Ramsburg,

Glad you like the chart.
(geez louize watchin the market goin downtown as I write.  It kept on making new highs with tick so negative it had to collapse. imo)

Theoretically INCY has it all.  Nice double bottom, great earnings.  I totally think it could hit 8 tomorrow and your right this type of pattern can signify a new trend with major gains.  Whats your time frame expectations?

I like holding stocks for a few days to maybe a couple weeks and I am all about probability.  One of my sell rules is when a candle has most of its range outside of the BB(Bollinger Bands) I'm gone.  The difference with INCY's move is that it occurrs at the start of an uptrend which may make it ok. 

Good saying:  Plan the trade.  Trade the plan.

[Ramsburg]

Plan the trade and trade the plan.. thats all it takes to make money in the markets... ;-)
(of course, you should have a good plan hehehe)

Well, my time frame is always, the regular position swing trading frame, which is between a few days and a few weeks like you.

[eliteG]

Well it can get confusing as I daytrade and daytrade my swings as well.  Hmm interesting INCY may end the day with this doji its showin now.

[Ramsburg]

Well it can get confusing as I daytrade and daytrade my swings as well.  Hmm interesting INCY may end the day with this doji its showin now.

I daytrade futures and forex sometimes.. but when I'm in stocks, I ussually stay with my position trade...

[eliteG]

well this play went from conservative to frikkin HOT now.  Nice. 

[David Randolph]

I don't know if INCY has enough power behind it to keep running away with the bulls. But I know the target price of that rectangular formation is (7.28-6.49)+7.28=$8.07.

I'll sell at that price if INCY goes there. Bought at $7.56, it would be a 6.75% profit. Not much, but we have to take what the market is willing to give.

[David Randolph]

... as explained above. A 6.74% profit.

Good morning !

[setravis]

euters
Pfizer to buy Incyte drugs
Monday November 21, 8:51 am ET


NEW YORK (Reuters) - Pfizer Inc. (NYSE:PFE - News) is set to pay Incyte Corp. (NasdaqNM:INCY - News) as much as $803 million for the development, manufacture and marketing rights of drugs to treat chronic inflammatory conditions, the companies said on Monday.


Shares of Incyte, a drug development company, jumped more than 41 percent in premarket trade.

Under the collaborative research and license agreement, Pfizer will get exclusive rights to Incyte's portfolio of CCR2 antagonist compounds, the most advanced of which is in mid-stage studies in rheumatoid arthritis and insulin-resistant obese patients.

Pfizer gains rights to potential uses for the oral drugs, except for one drug that may treat multiple sclerosis and possibly one other undisclosed indication.

In return, Wilmington, Delaware-based Incyte will receive $40 million up front, payments worth up to $743 million should the experimental drugs reach various stages of development, and royalties on future sales.

The world's largest drugmaker also agreed to buy $20 million in notes that will be convertible into Incyte stock, and to provide research funding for the CCR2 portfolio.

The agreement is subject to antitrust review and other standard closing conditions, the companies said.

Shares of Incyte rose $1.97 to $6.77 on the Inet electronic brokerage system. Pfizer shares were unchanged.

(Additional reporting by Christopher Kaufman)

[BigSully1]

INCY

Don't know much about it, but up 13.5% on BIG volume. Chart looking very good, I think.

http://stockcharts.com/h-sc/ui?s=INCY&p=D&b=5&g=0&id=p59191861522