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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Archive
- 12/8/2017
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BIOGEN IDEC INC
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaMACD bearish divergence
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It was a second consecutive positive week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 6.42 points, or 2.01%, and closed at 325.77 on Friday, December 08, 2017. Weekly volume was -36% below average.

BIIB is a member of Healthcare Sector. Healthcare is the most oversold 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 downtrend had started on March 20, 2015 at 480.18 and reached 223.02 on June 27, 2016. BIIB lost 257.16 points, or 53.55%, in 66 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (256.51) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See BIIB medium-term trend chart]
A medium-term uptrend had started on June 27, 2016 at 223.02 and reached 348.84 on October 18, 2017. BIIB gained -125.82 points, or -56.42%, in 68 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 222.23 and resistance is at 349.87. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since November 10, 2017. The distance between MACD and the signal line is low and getting smaller. 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 24, 2017 at 301.81 and reached 327.55 on December 8, 2017. BIIB gained -25.74 points, or -8.53%, in 45 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 above its signal line since November 24, 2017. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.64
Williams' Percentage Range (W%R) 30.50
Lane's Stochastic (%D-Slow) 70.24
Greed/Fear Indicator (GFI) 67.78
Moving Average Converg./Diverg. (MACD) -0.05 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.18
Williams' Percentage Range (W%R) 40.40
Lane's Stochastic (%D-Slow) 27.17
Greed/Fear Indicator (GFI) 45.75
Moving Average Converg./Diverg. (MACD) 10.19
Trading Signals
Description Value Chart
Monthly Trendline Resistance 381.90
Quarterly Trendline Resistance 349.87
Upper Bollinger Band 326.81
Price 325.77
Daily Stochastic Crossing 323.09
Monthly Trendline Support 321.51
50 Day Moving Average 319.57
Weekly Stochastic Crossing 314.95
20 Day Moving Average 314.95
Parabolic System 311.44
Lower Bollinger Band 307.22
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Biotechnology 12
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 301.81
Low Date 10/24/2017
High 327.55
High Date 12/08/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 348.84
High Date 10/18/2017
Low 301.81
Low Date 10/24/2017
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 381.90
Support 321.51
Low 244.28
Low Date 05/31/2017
High 348.84
High Date 10/18/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 349.87
Support 222.23
Low 223.02
Low Date 06/27/2016
High 348.84
High Date 10/18/2017
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 188.39
Support 256.51
High 480.18
High Date 03/20/2015
Low 223.02
Low Date 06/27/2016
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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