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Downtrend Broken Resist.Archive
- 6/12/2026 -
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BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 4.71 points, or 2.41%, and closed at 200.05 on Friday, June 12, 2026. Weekly volume was -35% below average.
 Long-term trend: [See BIIB long-term trend chart]
A long-term uptrend had started on April 9, 2025 at 110.00 and reached 205.97 on May 13, 2026. BIIB gained -95.97 points, or -87.25%, in 57 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 180.04 and resistance is at 207.10. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See BIIB medium-term trend chart]
A medium-term downtrend had started on May 13, 2026 at 205.97 and reached 184.90 on June 2, 2026. BIIB lost 21.07 points, or 10.23%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (199.46) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. BIIB may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.
 Weekly Technical Indicators: [See BIIB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 13, 2026. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 June 2, 2026 at 184.90 and reached 203.45 on June 12, 2026. BIIB gained -18.55 points, or -10.03%, in 10 days. The price is now at the 18.33% retracement level.
Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The distance between the Bollinger Bands (6.88%) is close to one year low (6.53%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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