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REGN’s Breakout Just Got Interesting
When a stock absorbs a deep selloff, builds a base, and then starts clearing prior resistance, the tape is telling you something has changed. Particularly as traders remain selective about where they put fresh capital to work. That is exactly the kind of transition that caught our attention in Regeneron Pharmaceuticals (REGN). After selling off through April and May, REGN established a technical bottom in June, spent several weeks testing that low, and then began rebuilding its trend with increasingly constructive price action. By late July, the 21-Day EMA had crossed above the 63-Day EMA, triggering a Profit Surge Buy signal, and with that signal still intact and strengthening, REGN has since cleared its prior 52-week high and pushed into fresh highs. ...Read More
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REGN’s Breakout Just Got Interesting
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