Regeneron Pharmaceuticals is a New York-based American biotechnology company known for its inflammation, cancer, and cardiovascular drugs. The company has also been in the news lately for its antibody cocktail treatment used to fight COVID infections. Regeneron had previously also made a similar antibody treatment to fight the Ebola virus. Regeneron has a strong track record of discovering, developing, and commercializing pharmaceutical products and antibody drugs. It has several products in the pipeline. Therefore, its long-term growth prospects look bright.
The long-term monthly chart for Regeneron shows a period of uptrend till about 2015. Since then, the price has remained range-bound and made sideways movements. The period from 2015 to 2021 has seen upswings followed by downswings. The most recent upswing saw the price hit a peak of $660 before the pullback took the price to a historical resistance level of $440. This level has now acted as a support with the price bouncing up for the past couple of months. The price now looks poised to retest the $660 peak. A stop-loss can be placed below the $440 support level, around $425.
Position entered into our long-term tracking portfolio today. The entry point is $504.39, and the stop-loss is placed at $435.51, which is 14 % below the entry point. The short-term to medium-term take profit at the top of the trend is set at $612.84, giving a profit of 21%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.