SNY and TBIO buttoned up the news this morning sending a bunch of other biotech stocks running higher. Now that this is out of the way, levels could be important for longs looking for "what's next" and the 236 Fib level seems to be that area to watch. It was an area that the volatile SNY stock settled above for weeks and now is an area it hasn't been able to...
After assessing Sanofi both technically and fundamentally my position on it is a strong buy.
Forming subsequent ABC Pattern, broke the floor. Fibonacci targets in place. Quite close to the first one by the way. We're going down. Down, down, down. NFA
SNY has experience two bump and runs throughout the course of its listing. Will a third follow? If so will it be immediately or will further trend strengthening occur. The bump and runs also resulted in two triple tops.
IBB, the tracking stock for the Bio sector looks ready to regain its upward trajectory. With the RSI and %R at very oversold positions it may be ready. We recently had a bounce off the 200ma, There appears to be consolidation in the blue box currently. Look for a move above the 8ema to enter long.
Repatha (AMGN) and Praluent (Regeneron (REGN)/Sinofy (SNY)) are two PCSK9 inhibitors, a new class of drugs to treat hypercholesterolemia more effectively than previously possible. This will trigger a HCV-like battle between the two as both have high efficacy. Both have room to share the market, allowing both to make a significant amount of money on these...