Repligen Risky Trade

MysticBlubber Updated   
NASDAQ:RGEN   Repligen Corporation
RGEN has been in a strong uptrend for a while, making a short a risky trade. Going to take a shot at it anyway.
Basic idea is the SMAs are spread, giving them some time to meet up again. Shown in two blue circles, previously the price would dip just under the SMA200 before taking off again. The target is the 0.618 FIB retracement, which lines up with the SMA200 and is a previous support region.

The target could actually probably be a little lower, but to minimize risk since this is a counter-trend trade, setting target a little lower to try and make off with profits. Also setting short entry at the previous wicks, with a tight stop just above the SMA100 - idea being the SMA100 will hopefully provide a bit of a buffer to reject further wicks if the price does indeed have ultimate intentions of moving lower. But if it breaks SMA100, then this counter-rend trade is likely defeated.

Profit target 10% with R/R 5x
Trade active:
Entry at 79.6
Trade closed manually:
RGEN has been holding the SMA20, and earning just released beating expectations. The SMA200 target has been slowly moving up, reducing the target profit. Trade not going in the right direction so closing early.