Biogen Inc. Common Stock BIIB Investment Analysis

September 23, 2022, 07:15 am ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

With an objective approach to Biogen Inc. Common Stock (NASDAQ: BIIB), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for BIIB change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if BIIB is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for BIIB too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for BIIB

• Buy BIIB slightly over 189.42 target 211.18 stop loss @ 188.87 Details

The technical summary data tells us to buy BIIB near 189.42 with an upside target of 211.18. This data also tells us to set a stop loss @ 188.87 to protect against excessive loss in case the stock begins to move against the trade. 189.42 is the first level of support below 197.82 , and by rule, any test of support is a buy signal. In this case, support 189.42 is being tested, a buy signal would exist.

• Short BIIB slightly under 211.18, target 189.42, stop loss @ 211.79 Details

The technical summary data is suggesting a short of BIIB as it gets near 211.18 with a downside target of 189.42. We should have a stop loss in place at 211.79though. 211.18 is the first level of resistance above 197.82, and by rule, any test of resistance is a short signal. In this case, if resistance 211.18 is being tested, a short signal would exist.

Swing Trading Plans for BIIB

• Buy BIIB slightly over 199.15, target 209.32, Stop Loss @ 198.57 Details

If 199.15 begins to break higher, the technical summary data tells us to buy BIIB just slightly over 199.15, with an upside target of 209.32. The data also tells us to set a stop loss @ 198.57 in case the stock turns against the trade. 199.15 is the first level of resistance above 197.82, and by rule, any break above resistance is a buy signal. In this case, 199.15, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BIIB slightly near 199.15, target 189.42, Stop Loss @ 199.73. Details

The technical summary data is suggesting a short of BIIB if it tests 199.15 with a downside target of 189.42. We should have a stop loss in place at 199.73 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 199.15, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BIIB

• Buy BIIB slightly over 198.43, target 199.15, Stop Loss @ 197.97 Details

If 198.43 begins to break higher, the technical summary data tells us to buy BIIB just slightly over 198.43, with an upside target of 199.15. The data also tells us to set a stop loss @ 197.97 in case the stock turns against the trade. 198.43 is the first level of resistance above 197.82, and by rule, any break above resistance is a buy signal. In this case, 198.43, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short BIIB slightly near 198.43, target 189.42, Stop Loss @ 198.89. Details

The technical summary data is suggesting a short of BIIB if it tests 198.43 with a downside target of 189.42. We should have a stop loss in place at 198.89 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 198.43, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

BIIB Ratings for September 23:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Weak
P1	0	0	167.56
P2	198.43	199.15	189.42
P3	203.56	209.32	211.18

Support and Resistance Plot Chart for BIIB

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.