The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 10
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Channeling Stock - rising channel and falling channel.
Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
channeling stock,stock channeling,rising channel,falling channel,Price Channel

BIOGEN IDEC INC (BIIB)

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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Move cursor over the icon to see details.

It was a first positive week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB climbed 0.78 points, or 0.24%, and closed at 325.40 on Friday, July 23, 2021. Weekly volume was -15% below average.

BIIB is a member of Health Care Sector. Health Care is the most overbought sector. 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 September 4, 2019 at 215.78 and reached 468.55 on June 7, 2021. BIIB gained -252.77 points, or -117.14%, in 91 weeks. The price is now at the 56.63% retracement level.

Medium-term trend: [See BIIB medium-term trend chart]
A medium-term uptrend had started on November 9, 2020 at 223.25 and reached 468.55 on June 7, 2021. BIIB gained -245.30 points, or -109.88%, in 30 weeks. The price is now at the 58.36% retracement level.

Weekly Technical Indicators: [See BIIB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since January 8, 2021. This is an indication that the medium-term trend is up. 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 June 7, 2021 at 468.55 and reached 317.26 on July 20, 2021. BIIB lost 151.29 points, or 32.29%, in 43 days. The price is now at the 5.38% 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. 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 and Williams' Percentage Range help.

The daily MACD line is below its signal line since June 21, 2021. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.35
Williams' Percentage Range (W%R) 91.20
Strong Oversold
Lane's Stochastic (%D-Slow) 13.85
Oversold
Greed/Fear Indicator (GFI) 19.67
Oversold
Moving Average Converg./Diverg. (MACD) -1.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.34
Williams' Percentage Range (W%R) 67.10
Lane's Stochastic (%D-Slow) 41.40
Greed/Fear Indicator (GFI) 43.77
Moving Average Converg./Diverg. (MACD) 16.43
Trading Signals
Description Value Chart
Upper Bollinger Band 366.23
Weekly Stochastic Crossing 341.89
20 Day Moving Average 341.62
Parabolic System 339.74
50 Day Moving Average 334.18
Price 325.40
Daily Stochastic Crossing 323.64
Lower Bollinger Band 312.09
Sector and Industry
Description Name Rank
Sector Health Care 11
Industry Biotechnology 73
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 372.11
High Date 07/09/2021
Low 317.26
Low Date 07/20/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 468.55
High Date 06/07/2021
Low 317.26
Low Date 07/20/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 250.42
Low Date 03/15/2021
High 468.55
High Date 06/07/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 223.25
Low Date 11/09/2020
High 468.55
High Date 06/07/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 215.78
Low Date 09/04/2019
High 468.55
High Date 06/07/2021
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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