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.
If you took my analysis, you might have closed the trade early, for those who havnt, now is the best time to close your trade. The buy entry was given on 8th April at 265.35 with stop loss at 249.68 (ard 1600pips risk), the price went up to 431.71, as much as 16000 pips profit, 10 times the risk. I dont trade fundamentally, most of the financial figure only start...
BIIB: Biogen Inc.
2021-06-07 13:00:00
FDA grants accelerated approval for ADUHELM™ as the first and only Alzheimer’s disease treatment to address a defining pathology of the disease
Certainly the "to the moon" for an established company like Biogen may be out of place but it makes the idea of the interest that big investors are demonstrating towards pharme and biotech companies in recent times.
From what I see on Miracle Viewer, the indicator that analyzes the market in search of the capital of big players, many of the capital of big...
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...
Hi. In this 1D chart I've marked an impending Golden Cross: the point where a MA 56 is very likely to cross a MA 224 upwards.
With this I've also plotted out a Resistance zone and a Support zone. The price has just entered the Resistance zone but instead of turning back this time the momentum of the Golden Cross should push it past the Resistance zone.
I've...
