BIOGEN IDEC INC
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|It was a second positive week after 4 consecutive negative weeks for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 12.50 points, or 4.00%, and closed at 325.20 on Friday, November 09, 2018. Weekly volume was -29% below average. |
BIIB is a member of Healthcare Sector. Healthcare 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 June 27, 2016 at 223.02 and reached 388.67 on July 25, 2018. BIIB gained -165.65 points, or -74.28%, in 108 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 272.32 and resistance is at 377.86. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See BIIB medium-term trend chart]
A medium-term downtrend had started on July 25, 2018 at 388.67 and reached 288.34 on October 25, 2018. BIIB lost 100.33 points, or 25.81%, in 13 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See BIIB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 5, 2018. 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 uptrend had started on October 25, 2018 at 288.34 and reached 331.88 on November 7, 2018. BIIB gained -43.54 points, or -15.10%, in 13 days. The price is now at the 15.34% retracement level.
Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.