This pattern is constructive particularly after this breakout because this breakout came straight off the bottom starting on 11/4. Between 11/4 and 11/9, BIIB rallied over 20%. The fact that it is digesting those gains on very low and low price is a sign that shareholders are not eager to take profits just yet.
At this point I am looking for a breakout above 325.30 to trigger a long entry. If triggered, my stop will be below support at 313.31