Momentum is building with this Rectangle. See the live chart action.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Consolidation. Can break either way.
Traders are watching Regeneron Pharmaceuticals (REGN) as price action tightens. Price has moved to $755.51 (1.21%) amidst recent volatility. Algorithmically, a Bearish Flag structure has completed. The trend indicator is reading 9.4/100, suggesting moderate momentum. A potential breakout level is identified at $727.96, targeting $631.46 with support near $775.63 (R:R 2.02).
What is your outlook on REGN?