BIIB 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.
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.
Comment:
BIIB had a split so the trade needs to be adjusted accordingly