Investing_Fellow
Long

Biogen: Further Growth

NASDAQ:BIIB   BIOGEN INC
After the stock price touched new highs in October 2019 ( management confirmed rebooting of aducanumab's development), Biogen started a consolidation phase.
I plotted the Ichimoku Cloud on a daily chart , together with the Bollinger bands , to highlight the volatility and confirm the consolidation phase. Currently, from a technical point of view, we are in an exciting phase, testing the high line of the cloud with a bullish configuration, as also confirmed by the Stochastic .

The upward trend is also confirmed by fundamental analysis . Biogen counts on a strong collaboration with Roche in oncology, and on growing revenues thanks to Ocrevus (Multiple Sclerosis), as well as to a significant pipeline.
Furthermore, the complexity of Biogen's drugs makes the production of Biosimilars difficult.

Disclosure: My articles contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor


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