REGN closes lower for the 3rd day in a row


Regeneron (REGN) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
REGN closes lower for the 3rd day in a row
REGN finds buyers again around 364.86
REGN falls to lowest close since July 31st
REGN closes within previous day's range
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, REGN ended the week -6.61% lower at 368.78 after losing $3.36 (-0.9%) today. Today's closing price of 368.78 marks the lowest close since July 31st. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for REGN
Volatility

Friday's trading range was $6.99 (1.88%), that's slightly below last trading month's daily average range of $9.29. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 361.65. Prices are trading close to the key resistance level at 374.84. After having been unable to move lower than 363.25 in the previous session, the stock found buyers again around the same price level today at 364.86.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 363.25 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Regeneron
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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