Regeneron Pharmaceuticals is a high-flying biotech name that is slowly maturing into a big pharma company. As it makes that transition, though, we’re seeing some volatility. Witness the severe moves up and down just since last summer. From a high around 450 to a low near 320, that is a huge range, especially considering it occurred in the span of eight days!
However, since early December we have seen Regeneron’s volatility calm down a bit with lower market volatility. The stock has made a symmetrical triangle with lower highs and higher lows. Technically that means there is no trend, because the stock base is at a lower level. You might think the next move would be lower, yet the evidence seems to weigh in favor of some upside.
Improved relative strength and a new MACD buy signal are bullish signs, and strong volume during up sessions tells us that institutions are buying. I believe a move above the 390 resistance will lead to a gap fill around 420 sooner rather than later.
Regneron Pharmaceuticals (Nasdaq:REGN) Video Chart Analysis
Take a deeper dive into the chart action on tech stock Regneron Pharmaceuticals Nasdaq:REGN and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions worldwide. Its marketed products include EYLEA injection for the treatment of neovascular age-related macular degeneration and diabetic macular edema, as well as macular edema following retinal vein occlusion; Praluent injection, an adjunct to diet and maximally tolerated statin therapy for the treatment of adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease, who require additional lowering of lipoprotein cholesterol; and ARCALYST for the treatment of cryopyrin-associated periodic syndromes, including familial cold auto-inflammatory syndrome and muckle-wells syndrome in adults and children. The company is also developing trap-based clinical product EYLEA for the treatment of Neovascular Glaucoma.