A price correction is often defined as a sudden loss in value, with the chart turning suddenly lower after an uptrend phase. But a correction can also occur in terms of time as opposed to price. The chart of Incyte Corp. (INCY) has demonstrated such a "time correction" in recent weeks. Today we'll break down the specifics of this consolidation phase, use technical indicators to validate the pattern, and focus on what would constitute a successful resolution. After bottoming out along with most U.S. stocks in April, INCY pushed back above its 200-day moving average before stalling out around $71 in early June. For almost two months after that moment, the stock traded within a sideways range between the 200-day moving average and the new resistance level. At the end of June, Incyte finally e

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