Many sector leaders like Gilead, Celgene, and Biogen all had a nice run up at the end of the week, which is encouraging given people tend to sell on Friday, especially in this market.
This bad boy went berserk in April 2013, flied away from this trend line and entered into a channel, which by the way, it broke exactly one year later, April 2014. Since then Regeneron had fallen back to this trend line, and it tested the high 270s support 3 times in the past month and successfully rebounded. I do believe the biotech selloff is over, however, a further selloff of other momo stocks(TWTR, TSLA, etc.)this week spoiled the party and botched this long anticipated revocery. But this doesn't mean the party is over, it just means it's postponed.
Plus, a big plus, Sanofi bought god knows how many shares of REGN at 310 in March and now owns a big chunk(30% ?) of the company. If Sanofi thought 310$ a share was fair, what's holding us back from snapping up REGN 280$ a share? And given the current M&A frenzy, who knows right?
This bad boy went berserk in April 2013, flied away from this trend line and entered into a channel, which by the way, it broke exactly one year later, April 2014. Since then Regeneron had fallen back to this trend line, and it tested the high 270s support 3 times in the past month and successfully rebounded. I do believe the biotech selloff is over, however, a further selloff of other momo stocks(TWTR, TSLA, etc.)this week spoiled the party and botched this long anticipated revocery. But this doesn't mean the party is over, it just means it's postponed.
Plus, a big plus, Sanofi bought god knows how many shares of REGN at 310 in March and now owns a big chunk(30% ?) of the company. If Sanofi thought 310$ a share was fair, what's holding us back from snapping up REGN 280$ a share? And given the current M&A frenzy, who knows right?