Repligen (RGEN) engages in the manufacture and supply of biologic products used to manufacture biologic drugs. This stock is trading up 9.9% to $4.31 in recent trading.
Today's Range: $4.02-$4.3652-Week Range: $2.90-$7.29 Volume: 176,000 Three-Month Average Volume: 192,703 Shares of RGEN are ripping higher today after the company raised its fiscal 2012 revenue guidance from $52 million to $55 million to its current estimate of $55 million to $57 million. The company also raised its net profit estimate from $5 million to $7 million for fiscal 2012. >>5 Biotech Stocks Poised for Breakouts From a technical perspective, RGEN is moving up sharply here back above both its 50-day at $4.17 and its 200-day at $4.21 with decent volume. This move is quickly pushing RGEN within range of triggering a near-term breakout trade. That trade will hit once RGEN takes out some near-term overhead resistance at $4.32 to $4.57 with high volume. Traders should now look for long-biased trades as long as RGEN is trending above its 50-day and 200-day moving averages, and then once it sustains a move or close above $4.32 to $4.57 with volume that's near or above 192,703 shares. If we get that action soon, then RGEN has a great chance of filling some of a previous gap-down from April that took the stock from $7.30 to $4. The probability of filling that gap will increase once RGEN takes out $5 to $5.14 with heavy volume.
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