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Incyte Shares Down 13.0% Since SmarTrend's Sell Call (INCY)
Nov 09, 2012 (SmarTrend(R) Spotlight via COMTEX) --
SmarTrend identified a Downtrend for Incyte (NASDAQ:INCY) on August 2nd, 2012 at $19.23. In approximately 3 months, Incyte has returned 12.98% as of today's recent price of $16.73.
Over the past year, Incyte has traded in a range of $11.76 to $26.30 and is now at $16.73, 42% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.
Incyte Corporation is using its expertise in genomics and medicinal chemistry, as well as molecular, cellular, and in vivo biology to discover and develop novel therapeutics. The Company has drug discovery programs underway focused on the identification of new small molecule drugs for cancer and inflammation.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Incyte.
Log in and add Incyte (INCY) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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