Regeneron Pharmaceuticals may fall to 877.00 - 900.00

Our pivot point stands at 1022.

Our preference

The downside prevails as long as 1022 is resistance.

Alternative scenario

The upside breakout of 1022 would call for 1061 and 1084.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 1017.4975 and 1105.252). Finally, Regeneron Pharmaceuticals has penetrated its lower daily Bollinger band (973.33).

Supports and resistances

1084 **

1061 *

1022 **

1006

968.5 (USD-last)

922

900 **

877 *

855 **

Number of asterisks represents the strength of support and resistance levels.