Biogen testing channel support
Biogen Inc. (BIIB) currently testing channel support, able to absorb weekly selling pressures.
From here, (BIIB) can recover and turn higher to channel resistance, eliciting gains of 20-25% over the following 2 - 3 months.
A settlement above this week’s high would accelerate this upward momentum.
Inversely, closing below this channel support would indicate losses of 20% over the following 2 - 3 months where (BIIB) can bottom out into Q4.
From here, (BIIB) can recover and turn higher to channel resistance, eliciting gains of 20-25% over the following 2 - 3 months.
A settlement above this week’s high would accelerate this upward momentum.
Inversely, closing below this channel support would indicate losses of 20% over the following 2 - 3 months where (BIIB) can bottom out into Q4.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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