The Greedy Trader Weekly Analysis
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Yearly Pattern:Falling Pennant
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

BIOGEN IDEC INC
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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is oversoldBearish Dark Cloud Cover CandlestickThe price moved above the moving average in the center of the Bollinger Bands
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 gained 3.81 points, or 1.12%, and closed at 344.21 on Friday, August 03, 2018. Weekly volume was 15% above 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 266.95 and resistance is at 372.49. 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 uptrend had started on April 24, 2018 at 249.17 and reached 388.67 on July 25, 2018. BIIB gained -139.50 points, or -55.99%, in 13 weeks. The price is now at the 31.87% 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 May 25, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 July 31, 2018 at 330.90 and reached 350.43 on August 3, 2018. BIIB gained -19.53 points, or -5.90%, in 3 days. The price is now at the 31.85% retracement level.

Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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.

The daily MACD line is below its signal line since July 26, 2018.

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.

Candlestick pattern: [See BIIB candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.81
Williams' Percentage Range (W%R) 66.80
Lane's Stochastic (%D-Slow) 16.43
Oversold
Greed/Fear Indicator (GFI) 31.83
Moving Average Converg./Diverg. (MACD) 11.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.00
Williams' Percentage Range (W%R) 27.60
Lane's Stochastic (%D-Slow) 74.09
Greed/Fear Indicator (GFI) 69.42
Moving Average Converg./Diverg. (MACD) 2.43
Trading Signals
Description Value Chart
Yearly Trendline Resistance 372.49
Parabolic System 369.37
Upper Bollinger Band 365.78
Weekly Stochastic Crossing 362.40
20 Day Moving Average 351.22
Price 344.21
Daily Stochastic Crossing 342.64
50 Day Moving Average 319.52
Lower Bollinger Band 318.31
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Biotechnology 154
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 330.90
Low Date 07/31/2018
High 350.43
High Date 08/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 330.90
Low Date 07/31/2018
High 350.43
High Date 08/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 388.67
High Date 07/25/2018
Low 330.90
Low Date 07/31/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 249.17
Low Date 04/24/2018
High 388.67
High Date 07/25/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 372.49
Support 266.95
Low 223.02
Low Date 06/27/2016
High 388.67
High Date 07/25/2018
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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