Regeneron Pharmaceuticals may rise to 1094.00 - 1109.00

Our pivot point is at 1017.

Our preference

The upside prevails as long as 1017 is support.

Alternative scenario

The downside breakout of 1017 would call for 995 and 980.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1000.6465 and 959.5078).

Supports and resistances

1123 **

1109 *

1094 **

1081

1039.11 (USD-last)

1027

1017 **

995 *

980 **

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