Despite reporting a first-quarter earnings per share and revenue beat, shares of Regeneron ( REGN) are trading lower Wednesday. Let's check out the charts and technical indicators. 
In this daily bar chart of REGN, below, we can see that prices have been pulling back since early April. Prices have come down to test the rising 200-day moving average line after breaking below the 50-day line. The On-Balance-Volume (OBV) line has made a slow decline in April and early May telling me that traders are now as aggressive on the buy side. The Moving Average Convergence Divergence (MACD) oscillator is pointed down and breaks below the zero-line for an outright-sell signal.
In this weekly Japanese candlestick chart of REGN, below, we can see a top reversal pattern in the end of March and early April. Prices are now testing the 40-week moving average line, but this chart will not be updated until Friday evening.The weekly OBV line is showing some recent weakness and the MACD oscillator is crossing to the downside at a lower high than September for a bearish divergence.
In this daily Point and Figure chart of REGN, below, we can see a potential downside price target in the $550 area.
Bottom line strategy: Shares of REGN look vulnerable to further weakness. A close below the 200-day moving average will be a signal for technically oriented traders to sell. A close below the 200-day line could precipitate a test and break of key support around $600. Avoid the long side.
