Hey traders, I was searching for potential pivot points for long call opportunities and I came across Biogen NASDAQ:BIIB and thought to myself "Hey! This looks good!"... that is until I saw they're expected to report earnings tomorrow. But otherwise, take a look at the chart above. One thing you will see...is that its been trading within a range. I highlighted...
NASDAQ:BIIB #AHMEDMESBAH
We seem to be inside a pennant, but of course the trendline is only based on 2 points for the top and bottom trendline so it may not be the most reliable trendlines to rely on. Another way to view the big picture of this chart is the demand and supply zones so even if you were to have a position on the trendline you should not panic just because the trendline...
Little bit of a divergence starting to form in the shape of a bullish pattern. I'm long, don't like it really if it starts to trade lower out of this range. $IBB
DAILY MACD: BUY DAILY DMI: +DI CROSSING UP -DI HOLDING ON DOUBLE FLOOR OF A BULLISH TL IF IT CLOSE UP THE OLD GAP RES I SAY 1ST OBJECTIVE ON 0.618 FIB RETRACEMENT ($330) LET SEE. TELL ME WHAT YOU THINK
Possible stop below 274 ABC pattern is only valid if price breaks entry level in a confirmed up trend Falling wedges are often bullish at the bottom and can signal a reversal in trrend if price breaks up and out of the falling wedge..the top trend line of the falling wedge is 288.7 right now On hourly, 274 seems to be an area of support but with abc patterns the...
If this finishes the day strong look for continuation of an upward trend.
Biogen today reported a huge earning beat, but disappointing guidance for the rest of the year. When you crunch the numbers, the midpoint of Biogen's guidance range for 2H 2020 came in slightly below Street consensus for both earnings and revenues. Biogen has a reasonable, but not great valuation, with forward PEG of 3.78 and forward PSG of 1.27. It's currently...
Great chance here.
BIIB: Anticipated BIIB Elliot waves (daily chart)
Based on my analysis: 1. BIIB formed a cup & handle (May 26-29). 2. Breakout the neckline with a high volume and formed a marubozu candlestick. 3. Stochastic shows an upward price bias. 4. Traders are advised to take profit at the price level (1) 312.50- 314 USD or (2) 321 USD.