Biogen Idec BIIB Last Price $326.55 (-0.99%) 08-05-2014.
Hi mates, how you doing?.
Today I would like to review the last BIIB trading idea, as you can see the price arrived to the extended price. Now it´s time to review the idea.
Last quarter BIIB reported an EPS better than expected so it´s before the natural correction of the last 3 sesions it´s probably the stock will rally again.
Let´s see the chart.
Supports and resistances.
S1:$324 S2:$294 R1:$349 R2:$363
Actually the sotck is close to the 50% fibo retracement, and in my opinion this is a great chance to buy. If you want to swing this stock you can buy at 50% retracement and look for a target inside the 23.60% retracement.
The stock is inside in an uptrend channel.
The MACD is very close to the signal and above zero. but it looks flat. If we see the macd with the stochastic we can say that it´s probably will not cross the zero level. I mean it´s probably the MACD will stay above the signal in the next sesions.
The RSI is at 52% and looks flat too.
The stochastic is oversold and it´s probably will bounce today and change the last three red sesions.
Anyway, this stock has a great results and looks like will report great results in the next quarters too.
So I recomend to buy this stock.
It´s probably today or in the next sesion will start a rally again.
The actual targets are:
TG1:$356.87 TG2:$376.25 TG Ext:$407.60
And that´s all!! Enjoy the Summer!! :)