REGN Profit taking
Biotech Basket
I have reevaluated my
REGN holdings, and have placed stop limits to both take profits, and a more protective conservative stop to close out my position entirely. My last stop has been hit (today) and now I am aggressively placing 35% of my position in a Stop at the 50% retracement level. A second stop limit is at the 38% retracement. The final portion is marked as position close.
The current level appears to be very destructive, Its very possible we have just finished markup and we are in the beginning of a distribution phase. If this is the case, the downtrend will be long and very destructive to share price. Its time to be prepared to take profits!
I have reevaluated my
REGN holdings, and have placed stop limits to both take profits, and a more protective conservative stop to close out my position entirely. My last stop has been hit (today) and now I am aggressively placing 35% of my position in a Stop at the 50% retracement level. A second stop limit is at the 38% retracement. The final portion is marked as position close.The current level appears to be very destructive, Its very possible we have just finished markup and we are in the beginning of a distribution phase. If this is the case, the downtrend will be long and very destructive to share price. Its time to be prepared to take profits!
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