2use

BIIB Outside of long term trend

NASDAQ:BIIB   BIOGEN INC
69 1 1
I would not call it a short yet after todays             almist 2% run for the markets, but i am not playing this long either. It went out of a long term trend, just like about everything im watching. Markets should be making a bounce, but if it fails to top the previous high, it will be a H&S pattern and won't lead much to anything. This is a big player, and so is ALXN             that had a indecisive week with ups and downs for +-5%. Biotechs are quite stable regarding the whole market nowadays - i was expecting a bigger drop for them. So now i am watching ALXN             , NVAX             , BIIB             , ARIAD and ACHN             . Be cautious as one day run after 10 days slump is not something to parade yet.
And so it reached the previous bottom.
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