4 Stocks Spiking on Unusual Volume
Incyte
Incyte (INCY), which focuses on the discovery, development and commercialization of proprietary small molecule drugs to treat serious unmet medical needs, is trading up 5.2% at $19.17 in recent trading.
Today's Volume: 1.56 million
Average Volume: 1.35 million Volume % Change: 110% From a technical perspective, INCY is ripping higher here right above its 50-day moving average of $17.30 with above-average volume. This move is quickly pushing INCY within range of triggering a major breakout trade. That trade will hit if INCY takes out some key overhead resistance levels at $19.60 to $19.80 and then once it clears more resistance at $20 to $20.53 with high volume. Traders should now look for long-biased trades in INCY as long as it's trending above some near-term support at $18.14, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.35 million shares. If that breakout triggers soon, then INCY will set up to re-fill some its previous gap down zone from last August that started at around $26.Select the service that is right for you!
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