argenx SE

The stock remains in a Stage 2 advance with its higher-high/higher-low sequence intact above the rising 50-day MA despite a corrective pullback. A Bearish Pivot Point pattern signals mean-reversion rather than distribution breakdown. Price is pulling back into the short EMAs and 50-day MA and requires clear support and acceptance through the EMAs before resuming upside. We defer execution until a confirming bounce and reclaim of the EMAs.

• ↑Q1 2026 net product sales hit $1.3B (+63% YoY), driven by VivGuard uptake
• ↑Strong cash position of $4.9B provides flexibility for R&D and trial funding
• ↓Elevated leverage risk could constrain capacity in adverse economic conditions