Biogen $BIIB is Weak Near Term but Strong Midterm, Shown in Charts and Graphs
Biogen (NASDAQ: BIIB) is Weak Near Term but Strong Midterm, Shown in Charts and Graphs below. Important: check the date of this report and update it as needed, because the data changes over time.
Long Term Trading Plans for BIIB
June 19, 2018, 9:02 am ET
The technical Summary and associated Trading Plans for BIIB listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for BIIB. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
BIIB - (Long) Support Plan
Buy over 275.33 target 318.96 stop loss @ 275.07.
The technical summary data tells us to buy BIIB near 275.33 with an upside target of 318.96. This data also tells us to set a stop loss @ 275.07 to protect against excessive loss in case the stock begins to move against the trade. 275.33 is the first level of support below 289.12 , and by rule, any test of support is a buy signal. In this case, support 275.33 is being tested, a buy signal would exist.
BIIB - (Short) Resistance Plan
Short under 318.96 target 275.33 stop loss @ 319.22
The technical summary data is suggesting a short of BIIB as it gets near 318.96 with a downside target of 275.33. We should have a stop loss in place at 319.22 though. 318.96 is the first level of resistance above 289.12, and by rule, any test of resistance is a short signal. In this case, if resistance 318.96 is being tested, a short signal would exist.