The Greedy Trader Weekly Analysis
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Price vs. Upper Bollinger Band:Crossover
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Bollinger Band crossover - Stock market timing signal.
The Bollinger bands indicator developed by John Bollinger in the early 1980s is one of the most popular and powerful trading tools. These bands are charted two standard deviations away from a simple moving average, and they provide a relative definition of high and low. Bollinger bands trading technique uses one band as an entry point exit of the other. The center band presents a neutral support/resistance level. As with most indicators, signals generated by bollinger band crossover should be confirmed using complimentary indicators.
bollinger bands,bollinger band crossover,stock market timing signal,bollinger band indicator screener

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- 6/24/2022 -
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BIOGEN IDEC INC (BIIB)

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Summary:
Weekly :Overbought sectorBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtPrice has crossed above the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARBroken trend resistance line
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It was a second consecutive positive week for the BIOGEN IDEC INC (BIIB). During the week, the BIIB gained 10.19 points, or 5.05%, and closed at 211.93 on Friday, June 24, 2022. It was the best weekly gain since March 18, 2022. Weekly volume was -75% below average.

BIIB is a member of Health Care Sector. Health Care is the most overbought sector. 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 downtrend had started on June 7, 2021 at 468.55 and reached 187.16 on May 9, 2022. BIIB lost 281.39 points, or 60.06%, in 48 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (155.69) 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 long-term trend.

Medium-term trend: [See BIIB medium-term trend chart]
A medium-term downtrend had started on April 20, 2022 at 225.50 and reached 187.16 on May 9, 2022. BIIB lost 38.34 points, or 17.00%, in 2 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (188.80) 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 technical indicators are neutral.

The weekly MACD line is above its signal line since March 25, 2022. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See BIIB short-term trend chart]
A short-term downtrend had started on June 8, 2022 at 208.49 and reached 188.54 on June 16, 2022. BIIB lost 19.95 points, or 9.57%, in 8 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (185.71) 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 short-term trend.

Daily Technical Indicators: [See BIIB daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily 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.

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 advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.60
Williams' Percentage Range (W%R) 5.50
Strong Overbought
Lane's Stochastic (%D-Slow) 88.04
Overbought
Greed/Fear Indicator (GFI) 80.71
Overbought
Moving Average Converg./Diverg. (MACD) -0.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.64
Williams' Percentage Range (W%R) 45.00
Lane's Stochastic (%D-Slow) 36.18
Greed/Fear Indicator (GFI) 46.82
Moving Average Converg./Diverg. (MACD) -15.43
Trading Signals
Description Value Chart
Upper Bollinger Band 213.59
Price 211.93
Daily Stochastic Crossing 211.14
50 Day Moving Average 203.29
Monthly Trendline Resistance 202.99
20 Day Moving Average 201.41
Weekly Stochastic Crossing 197.44
Quarterly Trendline Resistance 194.16
Parabolic System 192.34
Lower Bollinger Band 191.13
Monthly Trendline Support 188.80
Weekly Trendline Resistance 188.16
Weekly Trendline Support 185.71
Sector and Industry
Description Name Rank
Sector Health Care 10
Industry Biotechnology 107
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 188.54
Low Date 06/16/2022
High 212.71
High Date 06/24/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 188.16
Support 185.71
High 208.49
High Date 06/08/2022
Low 188.54
Low Date 06/16/2022
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 202.99
Support 188.80
High 225.50
High Date 04/20/2022
Low 187.16
Low Date 05/09/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 194.16
Support 155.69
High 468.55
High Date 06/07/2021
Low 187.16
Low Date 05/09/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 480.18
High Date 03/20/2015
Low 187.16
Low Date 05/09/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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