Regeneron Pharmaceuticals (REGN) received lots of media coverage over the weekend as President Trump was given a dose of Regeneron's monoclonal antibody Covid-19 treatment.
Let's check out the charts and indicators of REGN Monday morning.
In the daily bar chart of REGN, below, we can see prices rolled over from May to July. Prices declined below the cresting 50-day moving average line in August and approached the rising 200-day moving average line. The 200-day line was never tested but this was the closest it got since late February.
The trading volume declined in July and August as prices pulled back but we can see a pickup in turnover in September. The On-Balance-Volume (OBV) line has been weakening slowly since early June telling us that sellers of REGN have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside last month for a cover shorts buy signal.