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.
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