The PEAD projected a Bearish outlook for $BIIB after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
Looking at the options chain today, i would buy the $255 calls with
2022-9-16 expiration date for about
$3.40 premium.
Looking forward to read your opinion about it.
My recent post was a bearish view for BIIB, it included some Fibonacci Circles and I am questioning my ability to plot these.
So I have posted a much simpler chart that shows a dominant trend line in green that should be maintained
Once the descending channel reaches this level price should move upwards.
Here is the bear view
Remains a very risky trade.
A falling wedge pattern might be developing. The break usually occurs to the upside.
Above 190.00 supports a bullish trend direction. Crossing below this level will negate the positive stance.
Further bullish support for a price action above 197.50.
Consolidation is between 193.75 and 201.25. Crossing above 201.25 might target...
The PEAD projected a Bullish outlook for $BIIB after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 87.5%.
Coiling and looks to be painting a 5 wave C here. About to tap 200 MONTH MA and a lifetime .618 retrace to end wave II to start a potentially massive wave III. Will potentially trade all the way down to 140s but am going to start nibbling here for a lifetime HODL.
We're getting close the descending wedge and we're touching multi-year support at around 205. $BIIB has been in a downtrend since June with no signs of life so we could see a bounce or breakdown to lower lows.
The basics:
Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurological diseases to patients worldwide. I expect this industry to continue to grow as new advancements are made.
Trade Idea:
Since September of 2013 Biogen...
I think it warrants making a new publication here, $BIIB has flashed a buy signal with tremendously good reward to risk, as it can resume the long term trend that can take it over $1600-2600 over time. Phase 3 clinical trials have gone really well for their Alzheimer's treatment 'Aduhelm', putting it in line with results obtained by $LLY's drug 'Donanemab'. I was...
MID-TERM: Double bottom at an iceline with a breakout of a falling wedge and a double bottom on a wave of classic bullish divergence. (not financial advice)
Reward to risk long term in $BIIB is very attractive here. I've gone long via a calendar spread before the latest FDA approval news, which turned out like a good long position when Biogen's Alzheimer's drug Aduhelm received accelerated approval. Following this, related companies which also have Alzheimer's drugs pending approval (like $LLY) received a dramatic...
Larger Stop at 260
Closer stop at 273
Bullish cross already happened.
The Daily (yellow) EMA didn't work much in the past, but always keep stop closer.
RSI testing the average.
