REGENXBIO Inc.
Panjang

REGENXBIO Breakout of descending channel

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REGENXBIO RGNX is gearing up for a big move on its daily chart after holding strong within a multi-month ascending channel.

The price action recently pulled back from the top of the channel and has now broken out of a short-term descending channel, indicating that buyers are starting to regain control.

The stock is currently sitting right on top of the middle mid-range of the larger ascending channel, which is a key pivot point for a continuation of the rally.

If RGNX can hold this breakout and make a solid move higher, the next major target is that top channel resistance near $14.72.

Penafian

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