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|It was a second consecutive positive week for the Regeneron (REGN). During the week, the REGN climbed 1.22 points, or 0.40%, and closed at 308.10 on Friday, June 08, 2018. Weekly volume was -7% below average. |
Long-term trend: [See REGN long-term trend chart]
A long-term downtrend had started on June 22, 2017 at 543.55 and reached 281.89 on May 9, 2018. REGN lost 261.66 points, or 48.14%, in 45 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (227.65) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. REGN may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See REGN medium-term trend chart]
A medium-term uptrend had started on May 9, 2018 at 281.89 and reached 317.25 on June 7, 2018. REGN gained -35.36 points, or -12.54%, in 4 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 301.23 and resistance is at 317.38. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See REGN weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See REGN short-term trend chart]
A short-term uptrend had started on May 23, 2018 at 291.10 and reached 317.25 on June 7, 2018. REGN gained -26.15 points, or -8.98%, in 15 days. The price is now at the 34.99% retracement level.
Daily Technical Indicators: [See REGN daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since May 11, 2018. This is an indication that the short-term trend is up.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
Candlestick pattern: [See REGN candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.