Recently, we saw Regeneron Pharmaceuticals $REGN test a key support around 375. We noted that this was a key support, and a break below opens up the 325 and 300 level. Price action in this and the past week has been signaling this scenario.REGN Weekly Chart(click to enlarge)Bearish Correction Continues:- The weekly chart shows that price started consolidating after REGN cracked 600. - We then saw price trade roughly between 325 and 450 in 2016, but price broke higher in 2017.- The rally in 2017 is now almost completely wiped out, and thus the bearish outlook re-emerges.- The 325 and 300 area are possible targets, but further downside towards 275 is also in sight.