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| Candlesticks Name: | Bearish Downside Tasuki Gap |
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| Number of records: 4 |
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- 6/7/2024 -
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BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB climbed 0.49 points, or 0.22%, and closed at 225.43 on Friday, June 7, 2024. Weekly volume was -7% below 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 (355.62) 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 176.29 and resistance is at 235.33. 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 29, 2024 at 210.33 and reached 237.54 on June 5, 2024. BIIB gained -27.21 points, or -12.94%, in 7 days. The price is now at the 44.51% retracement level.
 Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 |
82 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
237.54 |
| High Date |
06/05/2024 |
| Low |
224.66 |
| Low Date |
06/07/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
210.33 |
| Low Date |
05/29/2024 |
| High |
237.54 |
| High Date |
06/05/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
189.44 |
| Low Date |
04/19/2024 |
| High |
237.54 |
| High Date |
06/05/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
235.33 |
| Support |
176.29 |
| High |
319.76 |
| High Date |
06/12/2023 |
| Low |
189.44 |
| Low Date |
04/19/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
334.62 |
| Support |
355.62 |
| Low |
187.16 |
| Low Date |
05/09/2022 |
| High |
319.76 |
| High Date |
06/12/2023 |
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