REGI Neutral Possible Entry at 73.40$
REGI has had a fantastic run since August of last year, running up almost 400%. REGI however has broken the 50 day SMA line which leads me to see it having more downside in the short term, going down to my price target of 73.40$. From there, REGI has the possibility of either breaking trend and continue down towards the low 50s where there is a lot of support for it or it can continue to maintain its trend and rise up to 120$. I see there to be many bullish catalysts for the stock including a Biden presidency, rising energy prices, and being undervalued compared to other companies in its industry. There are bearish warning signs which must be taken into consideration, a volatile stock/bond market, and REGI breaking the 20 day and 50 day SMA line. This is not financial advice, I am not advocating the buying or selling of REGI stock.
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