Regeneron Pharmaceuticals Inc (REGN), on the Nasdaq Stock exchange, jumped more than 6% today after Trump's physician confirmed he had been treated with an intravenous dose of Regeneron's dual antibody treatment. The treatment is an experimental drug from Regeneron, and this could be a major component to treatments moving forward for patients.
When Trump is involved, it's always bigger and better than anything else......maybe even the greatest :-), but will this make Regeneron Pharmaceuticals change into the greatest Pharma company in the months to come? Technical analysis and our program sheds some light on this company's future share price and trading ranges.
Both our current Stock portfolios have positions in pharmaceuticals, and in particular Regeneron Pharmaceuticals. Our program has identified it as long term value with regards to technical, fundamental and macroeconomic analysis going forward.
With the opening today on the Nasdaq, the share price moved into multiple timeframe bull trends. It also broke seller resistance levels in every timeframe from 1 minute to the daily levels. The share price is also in a major long term bull trend, and this seems to be the perfect storm for it to gain serious momentum, especially with Trump on board.
According to our program Regeneron has a current trading range of between $404 and $731. With Friday's close at $565 it was trading just about midway in its trading range. The gap created by today's spike may get closed. So we might see the $565 level tested again, and this will depend on the news of Trumps' recovery with this treatment over the next couple of days. Obviously they must have a lot of faith in this drug, if one of the most important individuals in the US gets treated with it.
Worth the risk......?? It depends on Trumps' recovery, and going by some statistics, a 74 year old has between 91 - 95% of recovering. With the best treatment, these figures should improve and in my opinion Regeneron is and will stay as one of our positions going forward.
Safe trading to all.
Both our portfolios (available for copy or mirror trading) has between 8 and 15% exposure in Regeneron currently, as well as short positions in overpriced stocks for downside protection. Learn more about us here.