$REGN has been in a “Go” trend since late October.
Since then we have seen higher highs and higher lows as price climbed to over $790. After the last high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term and indeed we saw GoNoGo Trend paint a series of weaker aqua bars as price fell from the high. GoNoGo Oscillator even fell into negative territory briefly in a concerning move. However, it quickly regained positive territory as price recovered and after breaking out of a small GoNoGo Squeeze into positive territory we saw price test prior high resistance. Now, we see GoNoGo Oscillator bouncing off the zero line, providing momentum support and a Go Trend Continuation Icon (green circle). At the same time, price is painted strong blue by GoNoGo Trend as it breaks to a new high. With momentum resurgent in the direction of the trend, we will look for price to consolidate at these higher levels and use prior resistance as support should it need it going forward.
