Biogen Inc. Common Stock $BIIB Technical Update
The Biogen Inc. Common Stock (NASDAQ: BIIB) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for BIIB, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
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Long Term Trading Plans for BIIB
June 12, 2019, 5:45 am ET
The Technical Summary and Trading Plans for BIIB help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this BIIB Report.
BIIB - (Long) Support Plan
The technical summary data tells us to buy BIIB near 175.18 with an upside target of 231.60. This data also tells us to set a stop loss @ 174.92 to protect against excessive loss in case the stock begins to move against the trade. 175.18 is the first level of support below 229.08 , and by rule, any test of support is a buy signal. In this case, support 175.18 would be being tested, so a buy signal would exist.
BIIB - (Short) Resistance Plan
The technical summary data is suggesting a short of BIIB as it gets near 231.60 with a downside target of 175.18. We should have a stop loss in place at 231.86 though. 231.60 is the first level of resistance above 229.08, and by rule, any test of resistance is a short signal. In this case, if resistance 231.60 is being tested, so a short signal would exist.