Regeneron Stock Forecast:
Regeneron (REGN) was another biotech stock that showed up on my technical scans as being in a strong uptrend, while the rest of the market was crashing to new lows. others included GILD, MRNA, MSFT.
I posted the chart below on Twitter on the 1st April 2020.
I post to twitter so you can see a time-stamp as proof. Below is a screenshot of the bigger REGN stock chart that was posted.
I tweeted that Regeneron had identified antibodies to treat COVID-19. Price may pullback before a breakout above $500.
Regeneron (REGN) had a method, which was successful in creating a drug to treat Ebola, to expose mice with genetically altered human-like immune systems to proteins in the virus so they create antibodies.
Regeneron Stock Forecast – Update 23rd April 2020
After breaking $500, Regeneron has trended higher. Although the trend looks strong, it is heading into resistance between $580 – $600. Also be aware REGN earnings are due on the 5th May.
As you know, if you have read my trade ideas, I don’t usually give exits as I have readers who range from day traders to long term investors. But as earnings are due soon, I suggest strongly you take some form of action, in line with your trading plan or strategy.
NOTE: Many Biotech drug trials fail. The idea is not to believe the hype, and trade the moves, in and out quickly. If you do believe in a company, at least lock in profits by using a (mental) trailing stop loss, or take partial profits.
Stock Screeners Used
- TrendSpider Technical Analysis scanner and charting software.
I have created many personal technical scans to find stocks in play. - Tradingview Fundamental stock screener (basic TA) and charting. I have also created many fundamental scans to find quality stocks.
- Trade Ideas Best Intraday high volume scanner and charts.
See how I use intraday high volume scans to find great trades early.
Read the Reviews of all the above stock screeners.
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These are NOT stock tips. Please note these are just trade ideas that I may, or may not take. It just helps me to focus by writing them down. I also do not give exits as I have various readers from Day Traders to long term Investors. Each of you have to do your own research, and use your own exits that suit your style of trading.
Disclaimer: This information is for educational purposes only, and NOT a trade recommendation. these are just trade ideas that require more due diligence and research on your part. I may or may not take the trades myself.
