Here’s your trade on Repligen ($RGEN) (April 09, 2020)


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I want to go through a real quick chart here on Repligen ( NASDAQ: RGEN ). Here’s the deal: You can see how this stock had been moving really, really nicely; a nice uptrend here and then it broke down like everything else. But it has actually formed a bit of a new channel with a little difference, it is pretty volatile still. We’ve got some rising or higher lows in print and then we can also look at it this way.

But here’s another way to look at it; a flat top here right at $100.00. So what I am looking for is a breakout this way on a move above 100.00. Now, let’s do some surgery on this and go a little bit deeper. We will zoom in here and here’s my $100.00 level here; $100.00 right there. And so you can see, the stock back here, on one magical day, pushed above it and it was like whack-a-mole, boom, back below $100.00. It came up here, boom. It came up here, oh, that’s the one. And the next day it gapped up, back down here.

This is what I would do: If the stock breaks out on Monday above 100.00 you have to be careful because just last Tuesday the stock did the same thing and then fell down, so you have to be careful about that. That level really would need to be holding. But I would say this is pretty simple: Don’t buy if it is below $100.00 because that is where obvious resistance is. You can and you might make money but you don’t have an edge in buying below $100.00.

Frankly, in my mind, the best time to be buying this is actually when it breaks out ABOVE Tuesday’s intraday high; because the only reason it would be able to break out above Tuesday’s intraday high is if the stock has enough buying interest to soak up all this supply and then keep going. Other then that, if it doesn’t do that just watch this. Just put it on your watch list, keep track of it every day. Set an alert maybe at $101.00 so at least you can get the heads-up from your trading assistant. If the stock does start moving above $100.00. That is the way that I would trade this.

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