InvestingScope
Long

Biogen Inc: Rare Long-Term Buy Opportunity.

NASDAQ:BIIB   BIOGEN INC
Biogen has lost over 30% of its value this month. Looking at the monthly chart, we have concluded that this is a rare investment opportunity as the current price is just above its 1M Support Zone .

Historically we see that such an aggressive sell off recently took place in 2015 - 2016 and again the stock managed to recover almost reaching the 390 Resistance again. This pattern may be similar to the one the long term (~10 year) consolidation that took place after the 2000 peak. The price then traded sideways roughly within 17.00 - 71.00, providing a buy opportunity on every major pull back.

We believe such an opportunity is presented now. Every dip near the 180 - 205 Support Zone can be bought with 350 - 390 as the Target Zone.





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More like 30% in premarket lmao
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