The Greedy Trader Weekly Analysis
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Price vs. 50 Day Moving Average:Below
Price vs. 20 Day Moving Average:Below
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Moving Average Crossover - stock market timing alerts.

The moving average is one of the oldest analytical tools for stock market alerts. It shows the average value of the stock price over a period of time and is used to emphasize the the direction of a trend. While the price is below the moving average, it is considered as bearish behavior in relation to the trend length being viewed.

When the price falls from the level above the moving average to the level below the moving average, it warns that the price trend being viewed may be weakening, and it presents stock market timing alerts. The moving average is a lagging indicator of the price trend.

Moving average and stock price crossover is a stock trading signal. The basic interpretation is to buy when the stock price moves above its moving average and sell when the price moves below its moving average. The length of the moving average should match the trend time frame. We use a 20-day moving average crossover to identify weekly trend and 50-day moving average crossover for monthly trend stock market alerts.

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- 3/15/2024 -
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BIOGEN IDEC INC (BIIB) Technical Analysis

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Summary:
Weekly :Broken trend support lineLane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Daily :Broken trend support lineThe price has fallen below the Parabolic SAR
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It was the negative week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB dropped -3.93 points, or -1.76%, and closed at 219.31 on Friday, March 15, 2024. Weekly volume was 55% above average.

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 (336.93) is broken. A broken support is considered to be a long-term bearish signal. 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 215.35 on March 1, 2024. BIIB lost 52.95 points, or 19.74%, in 8 weeks. The price is now at the 7.48% retracement level.

Weekly Technical Indicators: [See BIIB weekly technical indicators chart]
Weekly 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 weekly 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 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 uptrend had started on March 1, 2024 at 215.35 and reached 230.22 on March 11, 2024. BIIB gained -14.87 points, or -6.91%, in 10 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (221.10) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since March 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.30
Williams' Percentage Range (W%R) 74.40
Lane's Stochastic (%D-Slow) 59.67
Greed/Fear Indicator (GFI) 43.18
Moving Average Converg./Diverg. (MACD) -4.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.80
Williams' Percentage Range (W%R) 92.80
Strong Oversold
Lane's Stochastic (%D-Slow) 12.87
Oversold
Greed/Fear Indicator (GFI) 20.31
Moving Average Converg./Diverg. (MACD) -7.96
Trading Signals
Description Value Chart
Weekly Trendline Resistance 236.06
50 Day Moving Average 235.99
Upper Bollinger Band 231.57
Parabolic System 229.90
Daily Stochastic Crossing 223.43
20 Day Moving Average 221.69
Weekly Trendline Support 221.10
Weekly Stochastic Crossing 220.02
Price 219.31
Lower Bollinger Band 218.02
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Biotechnology 15
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 230.22
High Date 03/11/2024
Low 216.80
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 236.06
Support 221.10
Low 215.35
Low Date 03/01/2024
High 230.22
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 268.30
High Date 01/03/2024
Low 215.35
Low Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 319.76
High Date 06/12/2023
Low 215.35
Low Date 03/01/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 331.16
Support 336.93
Low 187.16
Low Date 05/09/2022
High 319.76
High Date 06/12/2023
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.