[Opening Position in Repligen (RGEN)]
Dear Member:
Repligen (RGEN) has been trending up gradually since the middle of last year. It has broken a resistance on the daily charts and is through resistance on the weekly charts as well. It looks like a good time to try to catch the run if it is going to make one. DMI and MACD are positive. Earnings are supposed to be announced August 8th.
It looks like RGEN could run to a first target around $5 which, with an exit about 25 cents from entry gives a potential reward to risk ratio of about 3.5:1. Next target after $5 is around $8.
I like the stock at a limit of $4.10 or better. If filled, I would place a stop at $3.85 to cut losses if I am wrong on the direction.
DISCLOSURE: At the time of publication, I have no position in RGEN.
Sincerely,
Bill Kraft
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