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Regeneron Pharmaceuticals Crosses Below its 10-day MA (REGN)

Published on Thu, 03/21/2013 - 11:12
By Robert Cotter

Regeneron Pharmaceuticals (NASDAQ:REGN) shares have crossed bearishly below their 10-day moving average of $172.67 on a volume of 135K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Regeneron Pharmaceuticals share prices have moved between a 52-week high of $188.95 and a 52-week low of $42.83 and are now trading 302% above that low price at $172.30 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.3%.

Potential upside of 9.1% exists for Regeneron Pharmaceuticals, based on a current level of $172.30 and analysts' average consensus price target of $188.00. The stock should discover initial support at its 50-day moving average (MA) of $170.88 and subsequent support at its 200-day MA of $152.65.

Regeneron Pharmaceuticals, Inc. is a biopharmaceutical company that discovers, develops, and commercializes pharmaceutical products for the treatment of serious medical conditions. The Company has therapeutic candidates in clinical trials for the potential treatment of cancer, eye diseases, and inflammatory diseases, and has preclinical programs in other diseases and disorders.

By Robert Cotter