The Best Top Stock In Biotech

One of the strongest sectors since the market bottomed on December 26th has been Biotech.

Taking a look at the top 10 holdings of one of the most popular trading Biotech ETFs, IBB, there is one that stands out as ready to explode higher.

The general market is still in a bearish trend, and if it turns lower and tests its December low, it will be hard to expect any stock to break out and run.

However, if the market consolidates or continues higher, then Regeneron Pharmaceuticals (REGN) is poised for a big breakout.
The $400 – 416.50 price area was a ceiling at least 8 times in 2018.

The speed with which REGN has returned this level even with the market in a bear trend suggests that a breakout would follow through.

There are two simple ways to play it enter after a daily close over $400 with a stop under $377, or wait for a breakout over the $416.50 highs.

After a breakout over $416.50, the $394 level could be used as a stop.

Given the range of the consolidation, $330-$410, it would be breaking out of, it’s reasonable to expect a quick move to $450 and then a test of the $500 level if the general market is at least stable.

Trade smart,

Rick Nartarian, Chief Investment Officer
The American Investor Daily