$RGNX - approaching the end of falling wedge pattern
Analysts forecast $40
Falling wedge pattern approaching it's end
Resistance 1: $13 --> R2: $16
RB0 trade ideas
Regenxbio hits 7-month high on $1.75bn partnership with AbbVieRegenxbio hits 7-month high following $1.75bn partnership with AbbVie
REGENXBIO Announces FDA Clearance of IND for Phase II Trial of RRGNX: REGENXBIO Inc.
2020-08-25 07:00:00
REGENXBIO Announces FDA Clearance of IND for Phase II Trial of RGX-314 for the Treatment of Diabetic Retinopathy Using Suprachoroidal Delivery
Going higher - Enough cash + catalyst in 2H, 2020I strongly believe this is going higher - has cash and have good enough catalyst for 2H, 2020 for it to run up. Good luck
RGNX BTFDRGNX sold off 12% today on news of a partial clinical hold on an NVS gene therapy trial using its vector.
After reading the press release I think this was an overreaction and the stock price will bounce back swiftly into RGNX earnings catalyst on 11/08/2019. It is sold off right to the bottom of its channel making for a beautiful setup!
#VolatilityWatch - $RGNX Upcoming data + Technical SetupThis year has been full of positive catalysts for RGNX. As RGNX continues to build out their clinical pipeline, data catalyst from upcoming phase 2a report on their Wet-AMD gene therapy product could send the stock roaring higher. RGNX is set to report data Oct. 13, 2019 and the companies technical setup is quite nice. The Wet-AMD market is a lucrative opportunity and proving the previous offering was worth the time and R&D to investors with good data will re-ignite excitement and investment. Although market conditions have been terrible lately, RGNX has held up great (I interpret this as positive sentiment going into data).
I have outlined and noted bullish patterns I will be watching.
One-Year-high : $85.10, July 09, 2018
Cup and Handle formation starting date of IPO (Stock has retraced to bullish .707 harmonic retracement level from the July 2018 high).
Recent low of $30 has significant price structure to hold current support.
$30 also marked "oversold" territory and double bottom on the one-year chart.
Symmetrical patterns portray controlled accumulation/ distribution in downtrend.
Recent price spikes indicate Bulls buying back in for potential run-up on good data.
RSI and CCI moving toward positive slopes.
Fibonnacci support levels converge with July 09, 2018 high.
Levels to Watch
-- Levels I will be watching to add range from current price ($35) down to $30.40
-- Structural levels (highlighted in horizontal rectangular box)
-- Support levels (horizontal lines on chart) price needs to hold range from $30 -> $26
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Disclosure: I am long RGNX. I may buy or sell within the next 72 hours. This is not a recommendation to buy or sale, please do your homework before investing.
Check my recent move with Conformis Inc. (Nasdaq: CFMS) , gaining over 30% move today
Gene Therapy for SMA-- Full technical analysis #VolatilityWatch
RGNX and Novartis just received FDA approval of Gene Therapy treatment for Spinal Muscular Atrophy (SMA).
(SMA)Spinal Muscular Atrophy is a disease affecting the motor nerve cells in the spinal cord, taking away the ability to walk, eat, or breathe.
It is the number one genetic cause of death for infants.
According to a company filling, price tag for treatment is $2.1 million.
Product is called Zolgensma
Congrats to RGNX and Novartis for the huge accomplishment!
I am putting this on #VolatilityWatch
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Disclaimer : I currently do not own any position in RGNX. This is not advice to buy or sell, It is for educational purposes. Please do your homework before investing.
RGNX primed to head higherI would take SL as 45.5 if you go big
or
SL as 42 if you can bear the loss on small size.
Post Earnings Play ReversionSome potential profit targets and short entries listed above. Short targets listed below.
Buy RGNX support lrvrl (channel up)This stock has been following a channel up pattern and it seems very steady. I would buy at the intersection between the 14,48 fibonacci retracement level and the trendline i drew on the chart.
