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Advanced TA SearchArchive
- 4/26/2024 -
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BIOGEN IDEC INC (BIIB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 6 consecutive negative weeks for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 14.52 points, or 7.47%, and closed at 208.90 on Friday, April 26, 2024. Weekly volume was 76% above average.
BIIB is a member of Health Care Sector. Health Care is the second most oversold sector. BIIB is a member of Biotechnology Industry. Biotechnology is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 price is now at the 83.60% retracement level.
 Medium-term trend: [See BIIB medium-term trend chart]
A medium-term downtrend had started on March 11, 2024 at 230.22 and reached 189.44 on April 19, 2024. BIIB lost 40.78 points, or 17.71%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (185.44) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BIIB weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly 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 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 April 19, 2024 at 189.44 and reached 210.83 on April 26, 2024. BIIB gained -21.39 points, or -11.29%, in 7 days. The price is now at the 9.02% retracement level.
 Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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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