When the Price of Biogen Inc. Common Stock $BIIB Talks, People Listen
June 01, 2023, 04:00 am ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for BIIB
- Buy BIIB slightly over 281.52 target 310.00 stop loss @ 280.71 Details
The technical summary data tells us to buy BIIB near 281.52 with an upside target of 310.00. This data also tells us to set a stop loss @ 280.71 to protect against excessive loss in case the stock begins to move against the trade. 281.52 is the first level of support below 296.41 , and by rule, any test of support is a buy signal. In this case, support 281.52 would be being tested, so a buy signal would exist.
- Short BIIB slightly under 310.00, target 281.52, stop loss @ 310.9 Details
The technical summary data is suggesting a short of BIIB as it gets near 310.00 with a downside target of 281.52. We should have a stop loss in place at 310.9though. 310.00 is the first level of resistance above 296.41, and by rule, any test of resistance is a short signal. In this case, if resistance 310.00 is being tested, so a short signal would exist.
Swing Trading Plans for BIIB
- Buy BIIB slightly over 299.56, target 310.00, Stop Loss @ 298.69 Details
If 299.56 begins to break higher, the technical summary data tells us to buy BIIB just slightly over 299.56, with an upside target of 310.00. The data also tells us to set a stop loss @ 298.69 in case the stock turns against the trade. 299.56 is the first level of resistance above 296.41, and by rule, any break above resistance is a buy signal. In this case, 299.56, 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 299.56, target 293.36, Stop Loss @ 300.43. Details
The technical summary data is suggesting a short of BIIB if it tests 299.56 with a downside target of 293.36. We should have a stop loss in place at 300.43 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, 299.56, 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 296.58, target 299.56, Stop Loss @ 295.89 Details
If 296.58 begins to break higher, the technical summary data tells us to buy BIIB just slightly over 296.58, with an upside target of 299.56. The data also tells us to set a stop loss @ 295.89 in case the stock turns against the trade. 296.58 is the first level of resistance above 296.41, and by rule, any break above resistance is a buy signal. In this case, 296.58, 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 296.58, target 293.36, Stop Loss @ 297.27. Details
The technical summary data is suggesting a short of BIIB if it tests 296.58 with a downside target of 293.36. We should have a stop loss in place at 297.27 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, 296.58, 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.
This is a snapshot. Real Time Updates are available on our BIIB Page.
BIIB Ratings for June 01:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
281.52 |
| P2 |
292.45 |
293.36 |
310.00 |
| P3 |
296.58 |
299.56 |
338.60 |
Support and Resistance Plot Chart for BIIB
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Biogen Inc. Common Stock (NASDAQ: BIIB) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for BIIB can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for BIIB:
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