Regeneron Pharmaceuticals ( REGN) , the pharma and biotechnology company that made headlines when its Covid treatment was given to former President Trump, has rewarded patient investors handsomely over the past decade. But our focus needs to be much shorter.
Let's take a look at the charts and indicators. 
In our Aug. 18 review we were bullish but a steep decline unfolded in September and we were stopped out at $590.
In this updated daily bar chart of REGN, below, we can see that prices quickly rebounded after their September-October decline. Prices tested the rising 200-day moving average line and that turned out to be a buying opportunity. The daily On-Balance-Volume (OBV) line made only a modest decline in September/October and then stabilized and is now pointing upwards. The Moving Average Convergence Divergence (MACD) is turning upwards to a fresh outright-buy signal.
In this weekly Japanese candlestick chart of REGN, below, we can see that prices are stalled a little -- we can see lower shadows telling us that traders are rejecting the lows and some (perhaps smaller) upper shadows telling us that the highs are being rejected. The slope of the 40-week moving average line is bullish. The weekly OBV line has been moving sideways to slightly higher in recent months. The MACD oscillator is poised to turn higher, I believe.
In this daily Point and Figure chart of REGN, below, we can see the recent new high for the move up to refresh the uptrend. A trade at $690 will be even more bullish, in my opinion. An upside price target of $749 is being projected.
In this weekly Point and Figure chart of REGN, below, we can see a slightly higher price target of $764.
Bottom line strategy: Aggressive traders could go long REGN at current levels or on strength above $690. Risk to $615 for now. Our price targets start at $749.
