The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 3/15/2024 -
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Regeneron (REGN) Technical Analysis

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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance lineBroken trend resistance line
Daily :The price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Regeneron (REGN). During the week, the REGN gave back -4.36 points, or -0.45%, and closed at 964.47 on Friday, March 15, 2024. REGN was trading at average weekly trading volume.

Long-term trend: [See REGN long-term trend chart]
A long-term uptrend had started on September 27, 2019 at 271.37 and reached 998.33 on February 28, 2024. REGN gained -726.96 points, or -267.89%, in 230 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (720.67) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 June 14, 2022 at 538.01 and reached 998.33 on February 28, 2024. REGN gained -460.32 points, or -85.56%, in 89 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (817.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.

Weekly Technical Indicators: [See REGN weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. 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 October 27, 2023 at 769.19 and reached 998.33 on February 28, 2024. REGN gained -229.14 points, or -29.79%, in 124 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 905.80 and resistance is at 1022.97. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See REGN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 1, 2024.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.27
Williams' Percentage Range (W%R) 76.70
Lane's Stochastic (%D-Slow) 35.37
Greed/Fear Indicator (GFI) 32.32
Moving Average Converg./Diverg. (MACD) 8.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.62
Overbought
Williams' Percentage Range (W%R) 18.30
Overbought
Lane's Stochastic (%D-Slow) 81.28
Overbought
Greed/Fear Indicator (GFI) 75.07
Moving Average Converg./Diverg. (MACD) 39.57
Trading Signals
Description Value Chart
Weekly Trendline Resistance 1022.97
Upper Bollinger Band 989.42
Parabolic System 986.89
Weekly Stochastic Crossing 983.93
20 Day Moving Average 969.38
Price 964.47
Daily Stochastic Crossing 961.94
50 Day Moving Average 950.04
Lower Bollinger Band 939.58
Weekly Trendline Support 905.80
Quarterly Trendline Resistance 896.16
Monthly Trendline Support 868.41
Monthly Trendline Resistance 838.04
Yearly Trendline Resistance 818.86
Quarterly Trendline Support 817.81
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Biotechnology 15
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 998.33
High Date 02/28/2024
Low 950.97
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 1022.97
Support 905.80
Low 769.19
Low Date 10/27/2023
High 998.33
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 838.04
Support 868.41
Low 684.81
Low Date 06/28/2023
High 998.33
High Date 02/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 896.16
Support 817.81
Low 538.01
Low Date 06/14/2022
High 998.33
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 818.86
Support 720.67
Low 271.37
Low Date 09/27/2019
High 998.33
High Date 02/28/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.