Double Toip

17 thg 11, 2014

REGN is doing a double top and it's at the Upper Channel Resistance level, If it is not able to break this level to the upside, then it will retrace to probably the mid channel line, and eventually if market in general falls it can go to the lower channel support line. There is a negative momentum divergence, which is the signature of a downtrend.
Entry: 386, Target 340, Stop: 410, Risk/Reward Ratio 2