jaxdog

REGN Ready to Rally?

Long
NASDAQ:REGN   Regeneron Pharmaceuticals, Inc
I've opened a position based on a number of technical and fundamental indicators. If however, it cannot hold today's low, I'm wrong and gone. On a technical basis it has broken it's recent downtrend line. It has also risen above it's most recent high and it seems to have found support at the support area I've drawn with the blue line. Things I don't like is that it's RS line is low, according to IDB is at an RSI of 11 so not a CANSLIM style stock. It did have an earnings beat on May 6 and I look at this as an earnings follow-thru. Ideas, not investing / trading advice.

From earningswhispers.com:

Regeneron Pharmaceuticals Beats

Regeneron Pharmaceuticals ( REGN ) reported 1st Quarter March 2021 earnings of $11.33 per share on revenue of $2.5 billion. The consensus earnings estimate was $9.02 per share on revenue of $2.5 billion. The Earnings Whisper number was $9.84 per share. Revenue grew 38.3% on a year-over-year basis.

Regeneron Pharmaceuticals Inc is a fully integrated biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.