REGN hitting some resistance here and negative divergence on the RSI. Inside bar with closed with a doji today.
$REGN Regeneron Pharma - 50d/200d ema Golden Cross on the daily chart last week after a solid earnings report in early August. Assuming bullish trend line holds, expecting continued gains over the next couple months. Near term target - $391 (gap fill) Medium term target - $420
.. if there is continuation. Otherwise, watch the resistance levels acting as support. (no position)
$REGN 1 year trend line breakout likely. ER run price action lowers to ER. Sales figures are on "cusp of heating up". cheaper drugs for cholestorel.
if stock breaks up the channel , it might go up to $365.07 , the opposite is true as well if Stock keeps going below $320 we might go up to $313.18
Target 330.23, stop 383.13 January $330 Puts $4.45.
Assumes wave 4 to end just above wave 1 around 380 Takes into account days/price change for waves 1 n 5
Theres still about $25 Regeneron can fall before it would begin to retrace the so called "wave 1" momentum.
The bullish case for Regn
The uptrend for regn looks strong at the moment with the rsi above the 0 line but do be careful in the weeks leading up to earnings release. personally, i am long atm but that may change if I can buy it back at a lower price.
REGN could head north of 400 post earnings, time to get in is between now @ 358.50 and a low of around 320
Regeneron near major support $350 but the pattern does not look supportive.
Repatha (AMGN) and Praluent (Regeneron (REGN)/Sinofy (SNY)) are two PCSK9 inhibitors, a new class of drugs to treat hypercholesterolemia more effectively than previously possible. This will trigger a HCV-like battle between the two as both have high efficacy. Both have room to share the market, allowing both to make a significant amount of money on these...
4-2 Speaking of a pullback to multiple supports? As long as this issue stays above the blue support lines all is well. This level also happens to be near the 50 day SMA. If you like these kind of chart set ups don't forget to follow me here or on TWTR at @AmazingPatterns For educational and informational use only, these are not recomendations , trade at...
4-1 Nice looking ABC to multiple supports. As long as this issue stays above the blue and green support lines all is well. This level also happens to be near the 50 day SMA. If you like these kind of chart set ups don't forget to follow me here or on TWTR at @AmazingPatterns For educational and informational use only, these are not recomendations , trade...