AI Predicts a Bearish Trend for Incyte Corp: A Potential 4% Monthly Decline Ahead
In the world of trading, the ability to anticipate market movements is invaluable. Our AI has identified a bearish trend for Incyte Corp (INCY, $60.97), predicting a decline of 4% to $58.53 or more within the next month. Based on similar scenarios where the stock trended down during the month, the odds of a downtrend continuation are 84%.
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Incyte Corp operates within the biotechnology industry, a sector that involves genetic or protein engineering to produce medicines and therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. However, these discoveries must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Some of the biggest operators in this industry include Amgen Inc., Gilead Sciences, Inc., and Celgene Corporation.
In terms of market capitalization, the average across the Biotechnology Industry is 2.05B, with a range from 402 to 345.46B. NONOF holds the highest valuation in this group at 345.46B, while PNEXF is at the lower end with 402.
Looking at price growth, the average weekly growth across all stocks in the Biotechnology Industry was 2%, with a monthly growth of 5%, and a quarterly growth of 31%. GLWLF experienced the highest price growth at 410%, while AVTX experienced the biggest fall at -89%.
In terms of volume, the average weekly volume growth across all stocks in the industry was 14%, with a monthly volume growth of 39% and a quarterly volume decline of -59%.
AI's prediction of a bearish trend for Incyte Corp underscores the power of AI in predicting market trends. As we continue to refine our AI algorithms, we look forward to sharing more insights and predictions with you. Stay tuned!
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INCY in downward trend: 10-day moving average crossed below 50-day moving average on September 14, 2023
The 10-day moving average for INCY crossed bearishly below the 50-day moving average on September 14, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 12, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on INCY as a result. In of 102 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for INCY turned negative on August 17, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
INCY moved below its 50-day moving average on September 13, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where INCY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for INCY entered a downward trend on September 21, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where INCY advanced for three days, in of 285 cases, the price rose further within the following month. The odds of a continued upward trend are .
INCY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. INCY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.746) is normal, around the industry mean (22.634). P/E Ratio (35.587) is within average values for comparable stocks, (131.508). Projected Growth (PEG Ratio) (0.434) is also within normal values, averaging (4.085). Dividend Yield (0.000) settles around the average of (0.034) among similar stocks. P/S Ratio (3.723) is also within normal values, averaging (305.056).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. INCY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a developer of drugs
Industry Biotechnology
INCY and
Correlation & Price change
A.I.dvisor indicates that over the last year, INCY has been loosely correlated with EXEL. These tickers have moved in lockstep 45% of the time. This A.I.-generated data suggests there is some statistical probability that if INCY jumps, then EXEL could also see price increases.
| Ticker / NAME | Correlation To INCY | 1D Price Change % | ||
|---|---|---|---|---|
| INCY | 100% | -1.21% | ||
| EXEL - INCY | 45% Loosely correlated | -0.46% | ||
| IMGN - INCY | 41% Loosely correlated | -1.07% | ||
| GMAB - INCY | 40% Loosely correlated | -1.12% | ||
| REGN - INCY | 39% Loosely correlated | +0.18% | ||
| AXON - INCY | 39% Loosely correlated | -0.36% | ||
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