Regeneron has gone nowhere since February 2016, but recent volume bars suggest that this may be a massive base. The stock surged off the 325 area with big volume in November. After falling back into January, the stock held above the October low and turned up the last 14 weeks. Notice that upside volume far outpaced downside volume two of the last five weeks. This stock appears to be under accumulation and a breakout at 400 would target an assault on range resistance. Careful this week because the Regeneron reports earnings on May 4th.
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Thanks for tuning in and have a great day!
--Arthur Hill CMT
Plan your Trade and Trade your Plan
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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