On Watch For Breakout In Shares Of Intercept Pharmaceuticals Inc

Discussion in 'Stock Market Forum' started by inthemoneystocks, Dec 20, 2017.

  1. inthemoneystocks

    inthemoneystocks Member

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    Shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) are hammering on a breakout trend line at $62.50. Should the stock push through, it will likely surge to as high as $66.50, perhaps within a day or two. Definitely a chart investors should be watching.


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    Gareth Soloway
    InTheMoneyStocks
     
  2. Chartman

    Chartman Senior Investor

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    Would would wait a little I think - $62.50 to $66.50 is not a massive profit margin to be playing with for traders?

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  3. gowiththeflow

    gowiththeflow Senior Investor

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    Looks like circa $70 is the next resistance level?
     
  4. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I have owned this one off and on for years. Currently own a fair amount that I am a little under water on. If we get some good news on this one, it will no doubt shoot up dramatically... Any bad news will send it even lower.
     
  5. gowiththeflow

    gowiththeflow Senior Investor

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    In my experience these types of shares are news driven and can go quiet for days, weeks or even months before coming back to life. Too long for short term traders hence the gradual sell off on lack of news.
     
  6. Chartman

    Chartman Senior Investor

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    In the past I have waited until the shares appear to strengthen for no reason which often means news is leaking into the market before it is announced. This doesnt always work but has on numerous occasions in the past.
     
  7. longtermbull

    longtermbull Administrator Staff Member

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    I totally agree as pharmaceutical shares tend to be rather leaky with regards to news. As a consequence, many company share prices will rise before the official announcement of news.
     
  8. gowiththeflow

    gowiththeflow Senior Investor

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    Looks like the shares may be bottoming out in readiness for the next significant uplift?
     
  9. gowiththeflow

    gowiththeflow Senior Investor

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    Seem to be stuck in one of the tightest short term trading ranges I have ever seen!
     
  10. JR Ewing

    JR Ewing Super Moderator Staff Member

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    This one continues to be a dud in recent times.

    A number of other biotechs I own in moderate amounts have been doing very well as of late - ABMD, BLUE, LOXO, SRPT, ONCE, SPARK, BPMC, etc.
     

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