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Possible Bearish Inside Day Candle Pattern Detected for Regeneron Pharm (NASDAQ:REGN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Regeneron Pharm (NASDAQ:REGN) based on the price action in the company's shares. Today's price range of $314.26 and $316.53 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Regeneron Pharm may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Regeneron Pharm share prices have been bracketed by a low of $281.89 and a high of $445.00 and are now at $314.26, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 0.5%.

There is potential upside of 17.3% for shares of Regeneron Pharm based on a current price of $314.26 and an average consensus analyst price target of $368.55. The stock should run into initial resistance at its 50-day moving average (MA) of $325.11 and subsequent resistance at its 200-day MA of $373.84.

Regeneron Pharmaceuticals, Inc. is a biopharmaceutical company. The Company discovers, develops, and commercializes pharmaceutical products for the treatment of serious medical conditions. Regeneron Pharmaceuticals serves the healthcare sector in the United States.

SmarTrend is monitoring the recent change of momentum in Regeneron Pharm. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Regeneron Pharm in search of a potential trend change.

Keywords: bearish inside day candle regeneron pharm

Ticker(s): REGN