Biotech stocks were on the move this week with many breaking out or near buy points.
REGN – Regeneron, is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions.
REGN is currently trading at 517.33 with all time highs coming in at 605.93, which was hit in August 2015. The moving averages: 21-week, 50-week, and 200-week, have come together, and are turning up positively. In the volume area of the chart we noted signs of institutional accumulation in the base.
Here’s the weekly chart for the new biotech stock: