REGN is currently at a strong weekly support level, having formed a double bottom with a clear bullish divergence on the daily chart. The price has also closed above a downward trendline, signaling a potential shift in momentum. While the price might be slightly resistant in the 668 - 686 zone, a strong close above this area could lead to further upside.
Trading Recommendations:
Entry Point (CMP): 594
Stop-Loss: Closing below 520
Take Profit 1: 686
Take Profit 2: Open
Beyond the initial target, other potential targets include 740. After that, the price could look to fill a gap at 914, and potentially even hit 1200 as there appears to be no major resistance before that level.
Happy trading!
Trading Recommendations:
Entry Point (CMP): 594
Stop-Loss: Closing below 520
Take Profit 1: 686
Take Profit 2: Open
Beyond the initial target, other potential targets include 740. After that, the price could look to fill a gap at 914, and potentially even hit 1200 as there appears to be no major resistance before that level.
Happy trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.