BIIB came out a nice Gartley Pattern on 4/22.
First stop should be the $277 area as AB=CD, where I would think there will be some profit taking.
Upside targets ($290+) are shown as this evolves into a possible Deep Crab Harmonic Pattern.
Biogen needs FDA drug approval, descent earning against healthy market backdrop for this to happen.
In higher time-frames you may also have a cup and handle formation.
As usual do your own DD
S.
First stop should be the $277 area as AB=CD, where I would think there will be some profit taking.
Upside targets ($290+) are shown as this evolves into a possible Deep Crab Harmonic Pattern.
Biogen needs FDA drug approval, descent earning against healthy market backdrop for this to happen.
In higher time-frames you may also have a cup and handle formation.
As usual do your own DD
S.
Comment:
An update...
Comment:
Biogen rallied to our $277+ level and backed off as expected.
It would not surprise me to see some consolidation here and then and run up to the upper D level provided we remain in a healthy broad market
It would not surprise me to see some consolidation here and then and run up to the upper D level provided we remain in a healthy broad market
Comment:
Acting quite well..