Regeneron Pharmaceuticals may rise to 1120.00 - 1134.00

Our pivot point is at 1049.

Our preference

The upside prevails as long as 1049 is support.

Alternative scenario

The downside breakout of 1049 would call for 1028 and 1014.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 1015.11 and 970.0578).

Supports and resistances

1147 **

1134 *

1120 **

1107

1071.19 (USD-last)

1058

1049 **

1028 *

1014 **

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