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Advanced TA SearchArchive
- 5/17/2024 -
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BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth positive week after 6 consecutive negative weeks for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 9.07 points, or 4.09%, and closed at 230.57 on Friday, May 17, 2024. Weekly volume was 15% 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 (351.11) 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 June 12, 2023 at 319.76 and reached 189.44 on April 19, 2024. BIIB lost 130.32 points, or 40.76%, in 44 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 180.88 and resistance is at 239.92. 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 medium-term trend.
 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 3, 2024. 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 May 3, 2024 at 213.11 and reached 236.90 on May 15, 2024. BIIB gained -23.79 points, or -11.16%, in 12 days. The price is now at the 26.61% retracement level.
 Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 23, 2024. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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