Chart of the Day: Incyte (INCY)

Incyte Corp. (INCY) has been trending higher since hitting its 52-week low on March 23rd.  Yet, now the rally has stalled and a key resistance level has formed…

INCY (INCY) focuses on the discovery and development of small-molecule drugs. The company’s lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease. The company last week announced positive results from a Phase 3 clinical trial, REACH3, that evaluated Jakafi in patients with moderate or severe steroid-refractory or steroid dependent chronic graft-versus-host disease (GvHD).

Take a look at the 1-year chart of INCY below with added notations…

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