BIIBCL trade ideas
Channel + support + doji + double bottom + 11:1 RRBIIB is in a channel and is in a buy low, sell high situation
The RR on this trade is 11:1:
Trigger: 272.98
Stop: 267.86
Target: 329.36
Plan:
Not sure if this trade will trigger because it is at a strong support and has formed a possible double bottom drawn in blue. I will leave this trade open for the rest of the week. If triggered I will set and forget stop and target triggers
The lowest low of the channel is 268 and my stop is below that for a conservative play.
Watch for Buying OpportunitiesIt hit target 1, but it still looks like it has further sideways action before it breaks through this to the upside
BIIB - Bull flagBIIB showing good relative strength. I bought 1 325 Dec16 call and sold 2 350 calls for 2.10 debit.
BIIB is setting up and there are a few ways to play itBIIB is setting up in what can be viewed as either a 3 weeks tight pattern AND/OR a pennant on both the daily and weekly charts. This pattern is coming right after breaking out of a 4 month long double bottom and is forming on very low volume.
This pattern is constructive particularly after this breakout because this breakout came straight off the bottom starting on 11/4. Between 11/4 and 11/9, BIIB rallied over 20%. The fact that it is digesting those gains on very low volume and low price volatility is a sign that shareholders are not eager to take profits just yet.
At this point I am looking for a breakout above 325.30 to trigger a long entry. If triggered, my stop will be below support at 313.31
Buy Biogen on Fundamentals. Target $375 for 2017I´ll make it simple.
1) Really promising reseachs on Alzheimer drug.
2) Atm there are 9.9MILLION new diagnoses of demencia every year(increasing market) this number is 30% more than what the worlds health organization predicted in 2010... hense the undervalue.
3) Increasing Profits
4) EPS at 4,71 higher than what many predicted.
5) Good administration.
Forgot why I thought this is a Long"Biogen Inc. said its investigational therapy for the early stage of Alzheimer’s disease was granted fast-track designation by the U.S. Food and Drug Administration, a designation intended to bring promising drugs for serious conditions to market faster." www.marketwatch.com this news with a positive earnings may see that the stock continues to move higher this quarter. If the near term resistance line is not overcome a short position may be entered, but the reversal in the CMF on positive news may prove to support a higher move.
BIIB LongBIIB broke through its short term down ward trend line. I am looking for a 50 gap fill of its previous large gap down at around 354. As price has taken a steep increase recently, I will be looking to buy on any pullbacks to its 21 moving average.
BIOGEN (BIIB)We think the company has a above average capital gains return. The comèany has taken a lot of debt, and we belive that that debt will be used soon to make an acquisition. Potential target is Shire Pharma.
Bull Divergence Bull Divergence indicates that Brexit sell off for BIIB might be over. Considering the strong fundamentals o this company this could be a great deal at these prices.
blogs.barrons.com
BIIB - Watch (Investment & potential swing trade)1D:
1W:
BIIB has gotten hammered and I feel it's over done. Since last gap down, it has been in a down trend with LHs & LLs. I'm hesitant to jump in until I see more technical justification. It is close to a support. I would like a retest and bullish candles before entering for a swing trade.
DoubleBottom Channel Breakout Trend Reversa, Volume ConfirmedBIIB has been in a downtrend for about 9-months. In March was the formation of a double bottom with volume confirming a reversal (left most green arrow). In May was the formation of a new lower high. This is confirmation that a new bullish trend is underway. On Tuesday, May 31st BIIB broke out both above the 200 SMA and and out of the downtrend channel on confirmed volume.
I am going to catch the next lower high and place my stop below the trend line:
Trigger (.5 fib): 264.44
Stop (.382 fib): 259.47
Target: $327.71
This trade has a reward: risk of 12:1. There is way more upside if you believe that all gaps are eventually filled or come close to being filled.
If the stock does not trigger because my trigger is too low I will look for a new entry along the lower black trend line.
The wedge is broken.Biogen Inc. wedge is broken. Also with the better than expected financial results can surge the stocks to 330-335 USD.
BIIB Set To Spring UpI see Money Flow is positive, and Chaikin Indicator shows swelling indicative of uptrend. I think Biogen is about to take off with the earnings report. It may jump as much as $20 to 30 in a day.
