INC Research Holdings Inc (NASDAQ: INCR)

INC Research Holdings, Inc. provides various clinical development services for the biopharmaceutical and medical device industries. The company offers a range of services focusing on Phase I to Phase IV clinical trials in the areas of central nervous system, oncology, and other complex diseases, such as genetic disorders and infectious diseases. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics.

Take a look at the 1-year chart of INC (NASDAQ: INCR) with the added notations:

1-year chart of INC (NASDAQ: INCR)

INCR had been in a steady trend higher going into August, but the stock started to move sideways from there. The stock has now made its way back down to its $37.50 level. Over the past 8 months, INCR has found support at that same $37.50 support (green) on multiple occasions. Traders may be able to expect some sort of bounce now that the stock has reached that support again. However, if the $37.50 support were to break, lower prices should follow.

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The Tale of the Tape: INCR has an important level of support at $37.50. A trader could enter a long position at $37.50 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Follow me on Twitter: @cmtstockcoach