REGENXBIO Inc.Long
#VolatilityWatch - $RGNX Upcoming data + Technical Setup
This year has been full of positive catalysts for RGNX. As RGNX continues to build out their clinical pipeline, data catalyst from upcoming phase 2a report on their Wet-AMD gene therapy product could send the stock roaring higher. RGNX is set to report data Oct. 13, 2019 and the companies technical setup is quite nice. The Wet-AMD market is a lucrative opportunity and proving the previous offering was worth the time and R&D to investors with good data will re-ignite excitement and investment. Although market conditions have been terrible lately, RGNX has held up great (I interpret this as positive sentiment going into data).
I have outlined and noted bullish patterns I will be watching.
One-Year-high: $85.10, July 09, 2018
Levels to Watch
-- Levels I will be watching to add range from current price ($35) down to $30.40
-- Structural levels (highlighted in horizontal rectangular box)
-- Support levels (horizontal lines on chart) price needs to hold range from $30 -> $26
Please like and follow us here so I can continue finding awesome charts and money moves. Thanks in advance!
Disclosure: I am long RGNX. I may buy or sell within the next 72 hours. This is not a recommendation to buy or sale, please do your homework before investing.
Check my recent move with Conformis Inc. (Nasdaq: CFMS), gaining over 30% move today
I have outlined and noted bullish patterns I will be watching.
One-Year-high: $85.10, July 09, 2018
- Cup and Handle formation starting date of IPO (Stock has retraced to bullish .707 harmonic retracement level from the July 2018 high).
- Recent low of $30 has significant price structure to hold current support.
- $30 also marked "oversold" territory and double bottom on the one-year chart.
- Symmetrical patterns portray controlled accumulation/ distribution in downtrend.
- Recent price spikes indicate Bulls buying back in for potential run-up on good data.
- RSI and CCI moving toward positive slopes.
- Fibonnacci support levels converge with July 09, 2018 high.
Levels to Watch
-- Levels I will be watching to add range from current price ($35) down to $30.40
-- Structural levels (highlighted in horizontal rectangular box)
-- Support levels (horizontal lines on chart) price needs to hold range from $30 -> $26
Please like and follow us here so I can continue finding awesome charts and money moves. Thanks in advance!
Disclosure: I am long RGNX. I may buy or sell within the next 72 hours. This is not a recommendation to buy or sale, please do your homework before investing.
Check my recent move with Conformis Inc. (Nasdaq: CFMS), gaining over 30% move today
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