BIIB has broken a long running bearish trend since Jan 2023
Entry @ 223
TP1 @ 255
SL @ 200
Fundamentally strong stock hence the far off Stop loss but still a 1:2 ratio risk reward
Biogen ( NASDAQ:BIIB ) has received a significant boost with the Food and Drug Administration's accelerated approval for Qalsody, a drug aimed at treating ALS, a debilitating muscle-wasting disease. While the approval marks a significant milestone in Biogen's efforts to address critical medical needs, the company faces challenges amidst concerns over its earnings...
BIIB's at a support level, but it's also been gapping up significantly every 2-6 quarters for the past few years. Its last gap was exactly a year ago, so it's overdue for a gap up. It's also within a month of earnings, so management is likely keen on pushing for newsworthy developments. I'll be rolling far OTM calls every week until earnings given the upside for...
Biogen has a monster trade brewing here, can't afford to miss this trade. I've been trading it actively since they received FDA approval for their Alzheimer's drug a while back.
The current setup looks very strong and implies a massive uptrend can start from right here.
Best of luck!
Ivan Labrie.
Biogen Inc. (BIIB) currently testing channel support, able to absorb weekly selling pressures.
From here, (BIIB) can recover and turn higher to channel resistance, eliciting gains of 20-25% over the following 2 - 3 months.
A settlement above this week’s high would accelerate this upward momentum.
Inversely, closing below this channel support would indicate...
BIIB shares might the consolidation channel and prepare a move higher.
The reason would be that the market discounts the potential sales CAGR for Alzheimer's drugs, reimbursements being an issue.
If the problem gets solved, BIIB gets a clear path towards higher valuation.
According to MarketWatch, The FDA approved the
Alzheimer's drug Legembi from
Eisai and Biogen
A quick look at the daily charts for $BIIB shows that it's already trading on or above major moving averages (ie. 9,21,50 SMA's). Also, seeing as this is a nice, green day for the SPY and BIIB has been beaten down recently, it's a nice long option for medium term traders...
Looking at the options chain today, i would buy the $255 calls with
2022-9-16 expiration date for about
$3.40 premium.
Looking forward to read your opinion about it.
My recent post was a bearish view for BIIB, it included some Fibonacci Circles and I am questioning my ability to plot these.
So I have posted a much simpler chart that shows a dominant trend line in green that should be maintained
Once the descending channel reaches this level price should move upwards.
Here is the bear view
50sma has been an important moving average for this ETF.
We see 3 consecutive tests of the 50sma as resistance and a bounce lower.
As we see lower highs and lower lows, the bearish trend is confirmed.
I expect we fail again and test the blue line ($144.5).
I think it warrants making a new publication here, $BIIB has flashed a buy signal with tremendously good reward to risk, as it can resume the long term trend that can take it over $1600-2600 over time. Phase 3 clinical trials have gone really well for their Alzheimer's treatment 'Aduhelm', putting it in line with results obtained by $LLY's drug 'Donanemab'. I was...
Reward to risk long term in $BIIB is very attractive here. I've gone long via a calendar spread before the latest FDA approval news, which turned out like a good long position when Biogen's Alzheimer's drug Aduhelm received accelerated approval. Following this, related companies which also have Alzheimer's drugs pending approval (like $LLY) received a dramatic...
BIIB blasted through long-term resistance on the huge news of the company's approval for a first-of-its-kind Alzheimer's treatment. This is a multi-billion-dollar market with effectively no competition.
