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

By Shiri Gupta

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 $315.44 and $315.44 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.

Potential upside of 16.8% exists for Regeneron Pharm, based on a current level of $315.44 and analysts' average consensus price target of $368.55. The stock should find initial resistance at its 50-day moving average (MA) of $364.39 and further resistance at its 200-day MA of $381.25.

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.

Regeneron Pharm share prices have moved between a 52-week high of $445.00 and a 52-week low of $281.89 and are now trading 12% above that low price at $315.44 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.6%.

SmarTrend is tracking the current trend status for Regeneron Pharm and will alert subscribers who have REGN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle regeneron pharm

Ticker(s): REGN