Here’s your trade on Repligen ($RGEN) (November 18, 2019)
RGEN
I want to look at Repligen ( NASDAQ: RGEN ). We have a Growth Stock List in the premium section here at Stock Market Mentor and those stocks are doing really well. A lot of stocks are, that’s what happens when the market goes higher like it is. I just added Repligen ( NASDAQ: RGEN ) on Friday hoping and kind of believing that the stock was going to break out today, in fact, it did. I am just pointing this out to you because I think this stock has more juice in it.
The way I am looking at it is, we can draw Darvas boxes, Nicholas Darvas, if you don’t know who he is just Google him and then you will know. He was a good trader, had a great technique. This is really how I see these trading boxes here. The stock broke out from this one and then formed this new one. And then a couple of weeks ago it broke out from the top of this one through the 50-day moving average and then formed this one.
This was what I was looking at on Friday, I was saying, “Okay, I see this stock here. I see what’s happening, this is kind of having a little turnaround here. Back up above the 50-day moving average; I think this thing could move.” And so it did today. The bottom line, I don’t think it’s too late to buy this stock. It would have been nice to buy it Friday right at the open of course. But I don’t think it’s too late to buy this stock now. You can be buying this stock at 86.43 and you don’t have to keep a stop down here. Think about this, the whole reason you are buying the stock is because you think that this break out is a real one and the stock is going to continue higher.
Because of that you can put a stop, you can put a stop right there. That’s a little bit below the breakout point so you are actually not risking that much money and in return you are getting the opportunity to participate, in maybe at least a $10.00, maybe a $12.00 swing; I thought I’d point it out at you. By the way, one of the reasons it is on the Growth Stock List is, the fundamentals are darn good and so that’s another reason. I think this is institutional buying that is going to be pushing this stock higher.
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