Repligen Stock Outlook: Risk Skewed To The Downside Through 2026

Repligen RGEN has been in a steady downtrend for over 1400 days. Adhishthana principles suggest the weakness is likely to continue. Here’s a breakdown of the stock's current structure.

Monthly Chart: Cakra Breakout and Himalayan Formation

According to Adhishthana principles, a stock typically breaks out of its Cakra pattern in Phase 9, which starts a strong upward move. This marks the beginning of the Himalayan Formation, a rally that leads to a peak followed by a decline.

Repligen followed this exact sequence. The stock broke out in Phase 9 and rallied by ~100%. That momentum accelerated in Phase 10 with a steep ~429% rally. Usually, a peak is expected between the 18th and 23rd bars of Phase 10. However, Repligen defied that. Confirming that the ascent was still underway with no peak in sight.

“The 18th interval is expected to be the level of peak formation; if not, then the 23rd interval. If this phase concludes without forming the peak, it is anticipated to occur in the following phases.”
— Adhishthana: The Principles That Govern Wealth, Time & Tragedy

In Phase 11, the stock initially climbed another ~100 percent but finally peaked at $327. Since then, it has entered the descent leg of the Himalayan formation, dropping to $122 and showing continued weakness for over 1400 days.

The target for the descent is still not achieved, and the stock shall continue its current structure throughout its current phase 12.

Weekly Chart: Weak Guna Triads Forcing Consolidation

Phases 14, 15, and 16 form the Guna Triads, which determine whether a stock can achieve Nirvana in Phase 18. For this to happen, the triads must show Satoguna, a clean and sustained bullish structure.

“A lack of noticeable Satoguna in any of the triads leads to no Nirvana in Phase 18.”
— Adhishthana: The Principles That Govern Wealth, Time & Tragedy

Repligen’s triads lacked Satoguna, signaling that a Nirvana move is unlikely. The stock has already started showing bearish tendencies in Phase 18, which will last until July 26, 2026.

Its weekly chart mirrors the structure seen in West Fraser Timber, which you can read more about here:
West Fraser Timber May Face Prolonged Weakness Ahead

Investor Outlook

With the descent from the Himalayan formation underway and weak triads in place, the current trend appears set to continue. While some may view the dip as a value-buy opportunity, the lack of a near-term rally structure makes that case less convincing.

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