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Daily MACD Divergence: | Bearish |
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Number of records: 10 |
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Advanced TA SearchArchive - 4/5/2024 - Sign In to see current Signals. |
BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB dropped -11.76 points, or -5.45%, and closed at 203.87 on Friday, April 5, 2024. It was the worst weekly loss since February 16, 2024. BIIB was trading at average weekly trading volume. BIIB is a member of Biotechnology Industry. Biotechnology is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See BIIB long-term trend chart] A long-term uptrend had started on May 9, 2022 at 187.16 and reached 319.76 on June 12, 2023. BIIB gained -132.60 points, or -70.85%, in 57 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (341.44) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. BIIB may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend. Medium-term trend: [See BIIB medium-term trend chart] A medium-term downtrend had started on January 3, 2024 at 268.30 and reached 202.18 on April 5, 2024. BIIB lost 66.12 points, or 24.64%, in 13 weeks. Price is near the trend low. Weekly Technical Indicators: [See BIIB weekly technical indicators chart] Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help. Short-term trend: [See BIIB short-term trend chart] A short-term downtrend had started on March 21, 2024 at 221.74 and reached 202.18 on April 5, 2024. BIIB lost 19.56 points, or 8.82%, in 15 days. The price is now at the 8.64% retracement level. Daily Technical Indicators: [See BIIB daily technical indicators chart] Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
Health Care |
4 |
Industry |
Biotechnology |
7 |
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Daily Trend |
Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
High |
221.74 |
High Date |
03/21/2024 |
Low |
202.18 |
Low Date |
04/05/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
230.22 |
High Date |
03/11/2024 |
Low |
202.18 |
Low Date |
04/05/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
268.30 |
High Date |
01/03/2024 |
Low |
202.18 |
Low Date |
04/05/2024 |
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Quarterly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
319.76 |
High Date |
06/12/2023 |
Low |
202.18 |
Low Date |
04/05/2024 |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Wedge |
Status |
Broken Support |
Resistance |
332.00 |
Support |
341.44 |
Low |
187.16 |
Low Date |
05/09/2022 |
High |
319.76 |
High Date |
06/12/2023 |
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