Biopharma Co. Shows Promise
Yesterday, we looked at a Daily Price Chart of PayPal Holdings, Inc. noting the stock’s 50-Day EMA was trading above the 100-Day EMA, signaling a bullish trend.
Today’s Chart of the Day is for Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN).
Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide.
The company’s products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME).
The Daily Price Chart below shows that REGN has traded in a clear bullish pattern of higher highs and higher lows since late February.
Track the Price Chart from lower left to the upper right…
This bullish trading pattern points to a further advance.
You see, typically stocks that make a series of two or more higher highs and higher lows reliably continue on in an upward trend.
But it’s important to note that strong stock rallies have pullbacks along the way.
These pullbacks present a buying opportunity for us.
Purchasing REGN stock after a 3% to 5% price pullback has provided a good entry point for the stock during this run and has produced a healthy return.
We’ll keep watching REGN stock as it tops its previous highs, and we’ll wait for price pullbacks.
Additionally, we’d like to talk about how a previous Chart of the Day stock has done…
The Power of Options
On June 8, we highlighted the ProShares UltraPro QQQ NASDAQ ETF (NASADQ: TQQQ), noting that TQQQ’s 1-Month Price was trading above the 10-Month SMA.
If you happened to have purchased TQQQ shares on that day, you’d already be up 21.9%.
But… if you had purchased the right option contract, you would be up 145.9% in just a months’ time!
That’s the power of options.
Best Regards,
Chuck Hughes
Editor, Chart Of The Day
The post Biopharma Co. Shows Promise appeared first on Laissez Faire.
Source: http://freedombunker.com/2020/07/08/biopharma-co-shows-promise/
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