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Archive
- 1/10/2025 -
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BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB dropped -3.80 points, or -2.50%, and closed at 148.40 on Friday, January 10, 2025. Weekly volume was -9% below average.
 Long-term trend: [See BIIB long-term trend chart]
A long-term downtrend had started on June 12, 2023 at 319.76 and reached 145.20 on December 19, 2024. BIIB lost 174.56 points, or 54.59%, in 79 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 136.49 and resistance is at 199.71. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See BIIB medium-term trend chart]
A medium-term downtrend had started on July 11, 2024 at 237.98 and reached 145.20 on December 19, 2024. BIIB lost 92.78 points, or 38.99%, in 23 weeks. Price is near the trend low.
 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 August 2, 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 December 19, 2024 at 145.20 and reached 156.40 on January 7, 2025. BIIB gained -11.20 points, or -7.71%, in 19 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (151.70) 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 December 23, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
5 |
| Industry |
Biotechnology |
38 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
156.40 |
| High Date |
01/07/2025 |
| Low |
147.70 |
| Low Date |
01/10/2025 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Broken Support |
| Resistance |
157.93 |
| Support |
151.70 |
| Low |
145.20 |
| Low Date |
12/19/2024 |
| High |
156.40 |
| High Date |
01/07/2025 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
237.98 |
| High Date |
07/11/2024 |
| Low |
145.20 |
| Low Date |
12/19/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
199.71 |
| Support |
136.49 |
| High |
319.76 |
| High Date |
06/12/2023 |
| Low |
145.20 |
| Low Date |
12/19/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
480.18 |
| High Date |
03/20/2015 |
| Low |
145.20 |
| Low Date |
12/19/2024 |
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