RGEN Swing

 



RGEN another healthcare name looking ready for another leg higher. Stock has had a very consistent pattern this year, each time once the dip was made, was not too long before new highs were made. Recently had a small gap lower which was bought up on big vol, held sideways for a week and broke higher into top TL from ATH. MAs very coiled with time for 50 to catch up and support with 5/9/20 just under price now. Weekly also 5/9 under.

Only concern here is Anch vwap from ATH has rejected lower twice, each with bearish engulfing so that will be a big warning sign if I get in today and tomorrow starts off weak. Closing well above would be big cue that wouldnt happen again. Trade has nothing in the way other than pivot levels. Some retracements may also get in the way. 

Entry
break of hi/bo with aggro or hold above

Stop
strong reject of anchvwap
Close under 183.50

PT
given the past, expecting new ATH.

Option
More than likely going to have a hard time getting filled, will have to settle for paying more. Very spready, not a lot of volume. Jan 15 any strike that looks like I can get a good fill at that moment



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