REGN snaps to lowest close since February 22nd

Regeneron (REGN) Technical Analysis Report for Apr 16, 2018

Highlights

REGN breaks key support level
REGN dominated by bears dragging the market lower throughout the day
REGN closes lower for the 2nd day in a row
REGN ends the day on a bearish note closing near the low of the day
REGN breaks below previous session low

TQ Sentiment

Report Sentiment: 57% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, REGN ended Monday at 318.20 losing $3.36 (-1.04%). Today's closing price of 318.20 marks the lowest close since February 22nd. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 319.26, the stock confirms its breakout through the prior session's low having traded $1.63 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for REGN

Volatility

Monday's trading range was $6.77 (2.09%), that's below last trading month's daily average range of $10.54. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 320.71 today, it is now likely to act as resistance going forward.

Trend

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

Order Flow

Selling might speed up should prices move below the close-by swing low at 315.37 where further sell stops could get triggered. With prices trading close to this year's low at 313.53, downside momentum might accelerate should the share break out to new lows for the year.

Conclusion

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

Market Conditions for Regeneron

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Break through SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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