|
Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
BIOGEN IDEC INC (BIIB) Technical Analysis
|
|
| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
| |
|
|