Incyte Corporation (INCY) 2021 Q1 Entry Point

Purchase Info

Stock Price History

Stock Price Video

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Our View

 Incyte Corporation is a Delaware-based pharmaceutical company that innovates, develops, and markets proprietary therapeutics. It has a host of products in the pipeline, from pre-clinical to late-stage development. It currently has one FDA-approved product known as JAKAFI that treats a bone marrow ailment. The company’s revenues have grown almost 5x in 5 years and its product pipeline holds plenty of promise for future growth.

The long term monthly chart for Incyte shows an uptrend with major pullbacks in 2016 and 2017. The $70 level has proven to be an important support zone throughout the last 5 years with the price testing the level multiple times. Most recently, the price has bounced up from close to the bottom of the long-term trend which is not far from the $70 level. An intermediate target of $109 and a subsequent target of $139 looks likely. A minimum higher risk stop loss can be placed below the support level at around $70.

Position entered into our long-term tracking portfolio today. The entry point is at $92.63 and stop-loss $64.91 which is 30% below the entry point. The short-term to medium take profit at $160 giving a possible healthy profit of 73%.

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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