BIIBCL trade ideas
BIIB Approaching Resistance, Potential Drop!BIIB is approaching our first resistance at 358.14 (horizontal swing high resistance, 61.8% fibonacci extension , 78.6% fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 310.02 (61.8% fibonacci extension , 61.8% fibonacci retracement ).
Stochastic (21,5,3) is also approaching resistance where we might be seeing a corresponding drop in price.
BIIB Approaching Support, Potential Bounce!BIIB is approaching support at 296.13 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 336.68 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching support at 4.4% where a corresponding bounce could occur.
if Break $326 w/ 9eMA Contination above 21If so $353 COG #fibonacci #supportandresistance
Wait 4 conviction
[BIIB] phase 3 to phase 4? -> evaluate sell.There is more probability of the price down (18.28% vs 16.72%), so I think you should sell.
The price is starting to be below the MM30.
BIIB sell a put before earningsGet some extra bucks by selling Nov 16 ,295 puts...earnings next week..Volatility crush will work in your favor. Strike is at a good technical level
BIIB: not the perfect entry point... still the price is amazingstrong macros and revenues... if the Alzheimer pill succeeds this company will E X P L O D E !
BIIB C&H 100 pts move, not confirmedOne of the cleanest handles I've seen, sure looks ready. IHS inside the handle, then 100+ pts. Let's go
BIIB - LOOK FOR 339 BREAK If we can break this 339 this baby is going to fall like a rock.. This is a great option play for people with less cash..
Time to take profits, BIIB30%+ gains after accumulation in April, time to take profits. Stock doesn't look like it wants to move up anymore, at resistance and a double top. See how things play out over the next while but right now $300 looks to be the price to wait for before buying again.
Biogen Earnings Swing July 2018Biogen's (344.10 at close at the date of this writing) and Eisai's recent success with BAN24O1, an experimental medication for Alzheimer's which is currently in mid-stage clinical trials, in addition to a recent price target raise by Citi, and overall bullish analyst sentiment led to a rally between July 6-9, 2018.
Although the clinical trial's success was certainly reason for bullish sentiment, it ran too far too fast and indicators pointed towards to a sell off. I thus opened put options on July 9, expiring July 13 2018 (currently in the money). We are now only about two weeks away from Biogen's earning report. After studying historical data and charts, I've found that there is often a sell off prior to earnings OR there is a run up then a slight sell off right before the earnings date. I've annotated the chart with periods that indicate this.
In this case, I believe downward momentum will continue followed by a slight rally pre-earnings then a sell off. Opening JUL20 puts may be a smart move at this time.
In the long term, Biogen -0.21% is very scalable and overall is very promising. I agree with Citi's PT of 371.
www.wsj.com
BIOGEN / BIOTECHNOGY STOCKS.. READY FOR A BULL MARKET BLASTOFF !If one is looking for reasons why this supposed aging bull market cannot go on, and continue much, much longer
than the conventional wisdom would portend, then I am suggesting that you look immediately at the new found,
and potentially strongest industry group to lead the next phase of the bull market, THE BIOTECHNOLOGY STOCKS !
On 7/6/18, BIOGEN Gained almost 20 %, for a large cap stock that was quite an exceptional move, confirmed by VOLUME
as large money flowed into the stock on successful phase 1 test results on a drug to treat Alzheimer's Disease !
On a 4 Hour Chart, BIOGEN has been building a very Bullish Cup Pattern, since the Low at 249.17 on 4/24/18
The 2018 High of 370.24 on 1/26/18 is now easily within reach,
and on a measured BREAKOUT move above resistance,the stock would project to 491.31 !
Bottom Line : Biotechnology Stocks, lead by BIOGEN appear ready for a NEW BULL MARKET BLASTOFF !
THE_UNWIND
BIIB possible cup formingPlaying Trading Simulator Game:
Cup taking shape on the daily chart.
Price in upward channel.
Stoch in upward channel.
RSI shows nice upward trend.
Enter long after price above:
a) 16MAR18 high of 292.30
b) 26FEB18 high of 296.10
c) Psychological resistance of 300
My choice: BUY STOP at 301.5
Still bearish on BIIBMy thinking on BIIB is the following :
WIth the earnings coming up next week we might see a 1-2 week rally max ( which will bring it to the sell zone 275-285 range) where it is then shortable for a downward move projecting into mid June which could
easily hit 210-220 range.
BIIB - BIOGEN potential rebound hereBouncing higher from oversold conditions, expecting further upside over the next few days to weeks, set your own stops and profit targets.
Buy & Hold, Target $375Again with Biogen. Super solid company, with 30 billions cash available for spending every year... The company repurchased stock at this price before, a clear sign of the cheap prices right now. The risk? Alzheimer´s drug... Im optimistic, so im buying. But if you think they will fail with that then dont jump in.
