Regeneron Pharmaceuticals may rise to 1155.00 - 1171.00

Our pivot point stands at 1064.

Our preference

The upside prevails as long as 1064 is support.

Alternative scenario

The downside breakout of 1064 would call for 1037 and 1021.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 1053.4465 and 1008.7184). Finally, Regeneron Pharmaceuticals is trading above its upper Bollinger band (standing at 1090.65).

Supports and resistances

1188 **

1171 *

1155 **

1138

1100.05 (USD-last)

1074

1064 **

1037 *

1021 **

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