If the stock is able to close above the mark horizontal ray we can expect the stock to fill the gap by maintaining a SL of 571. This is a Risker call those who are willing to take risk can take entry in the stock if the close is above mentioned level.

The stock has corrected from it's all time high, and the fall in the share was sharp compared to the upside move but this is common in this stock. After the gap down the strength should be usually strong in the share but this was not seen in the share, we can say that this is a mean reverting move. Usually mean reverting moves can be dangerous to enter.

If the stock closes above the 50 day EMA the confirmation can be strong as the stock has followed the 50 Day Ema.

As per BB studies if the stock closes above the Upper band we will get another confirmation on the long side. We might see some volatility in the stock in the coming days.The DMI is showing a flat move if the DMI+ crosses above the DMI- we will get a positive direction confirmation and the ADX above the DMI- we will get to know there is strength in the move.

Advice : Buy only if the stock closes above the ray

Regeneron Pharma

Oct 24 2021