1BIIB trade ideas
$BIIB imploding to the downsideStock is leaking out lows, next stop 182.23 where we should bounce. Until then i am #bearish
BIIB Long, Coming Soon!The price has sold off from the $207.59 pivot level, dropping to $193.84 as of the Monday, September 30th close. The sharp decline from $200 to $190 over two days last week was largely due to sector-wide weakness, as reflected in the IBB (Biotech ETF). Since then, both the ETF and BIIB have been consolidating, showing signs of stabilization. Buyers have begun to step in, especially noticeable on the 65-minute chart. Following the rapid sell-off, the price bounced higher, testing the $193.65 resistance level, which corresponds to a monthly pivot.
Although price initially failed to close above this level, the next day saw a gap up, with price holding above the resistance. Yesterday, the stock consolidated tightly throughout the day, indicating some strength. While there isn’t a definitive daily technical setup to warrant immediate conviction, the stock looks promising for a potential long swing trade in the coming days, particularly based on the oversold condition and technical recovery. Keep an eye on how the price action evolves for a better entry signal.
BIIB - Breakout soonBIIB is forming a tight pennant setup. Either this gonna breakout here and rally or Fakeout and crash. Let’s see..!
Long anywhere here.
Target #1 - 250
Target #2 - 260
Target #3 - 275
Stop loss - 225
BIIB bear trend breakout? BIIB has broken a long running bearish trend since Jan 2023
Entry @ 223
TP1 @ 255
SL @ 200
Fundamentally strong stock hence the far off Stop loss but still a 1:2 ratio risk reward
Biogen Stock Surge 4.85% on Approval For ALS DrugBiogen ( NASDAQ:BIIB ) has received a significant boost with the Food and Drug Administration's accelerated approval for Qalsody, a drug aimed at treating ALS, a debilitating muscle-wasting disease. While the approval marks a significant milestone in Biogen's efforts to address critical medical needs, the company faces challenges amidst concerns over its earnings quality and ongoing transformations under new leadership.
Hope Amidst Challenges:
The FDA's accelerated approval for Qalsody represents a beacon of hope for ALS patients, offering a potential treatment for a devastating disease with limited therapeutic options. Biogen's collaboration with Ionis Pharmaceuticals underscores the importance of innovative partnerships in advancing medical research and addressing unmet medical needs. However, despite this positive development, Biogen's stock performance remains under pressure amidst broader market uncertainties and investor concerns.
Earnings Quality Debate:
Biogen's recent earnings report, while beating expectations, has sparked debate over the quality of its earnings performance. Analysts have raised questions about the sustainability of Biogen's growth trajectory under new CEO Christopher Viehbacher, citing ongoing transformations and challenges in key therapeutic areas. The company's stock reaction to the earnings beat reflects investor caution and underscores the need for clarity regarding Biogen's long-term strategic direction.
Strategic Initiatives and Pipeline Potential:
Biogen's strategic initiatives, including its Alzheimer's and depression treatment efforts, holds significant potential to drive future growth. The accelerated approval of Leqembi for Alzheimer's and the optimism surrounding zuranolone for depression underscore Biogen's commitment to addressing critical neurological disorders. However, challenges persist, particularly in the multiple sclerosis franchise, where competition and generic alternatives continue to impact sales.
Navigating Market Dynamics:
Biogen's resilience amidst market challenges hinges on its ability to effectively execute strategic initiatives, manage portfolio dynamics, and capitalize on emerging opportunities. The company's reaffirmed outlook for full-year sales, despite headwinds in certain therapeutic areas, reflects confidence in its pipeline potential and strategic resilience. As Biogen ( NASDAQ:BIIB ) charts its course forward, investor sentiment will likely be influenced by developments in key therapeutic programs, regulatory decisions, and market dynamics.
Legendary Sharkley A combination of a Shark harmonic pattern and a Gartley has emerged at the pattern completion zone. There is also bullish divergence on the RSI at the comfirmation double bottom. NASDAQ:BIIB has been oscillating between around $190-$440 since 2013 and seems to be at a good bargain price of $218 currently which is on the lower side.
9 year consolidation about over?Might make this one a core position over the coming months... 200 month moving average tested successfully once already.
$BIIB ShortNASDAQ:BIIB is forming a Bearish Gartley pattern after attempting a breakout. Gartly patterns are one of the most common harmonic patterns.
Typically the stop-loss on these patterns can be set at the first leg of the pattern around the $270 mark.
BIIB Overdue for Gap UpBIIB's at a support level, but it's also been gapping up significantly every 2-6 quarters for the past few years. Its last gap was exactly a year ago, so it's overdue for a gap up. It's also within a month of earnings, so management is likely keen on pushing for newsworthy developments. I'll be rolling far OTM calls every week until earnings given the upside for such a gap.
$BIIB: Monster trade, brace yourselvesBiogen has a monster trade brewing here, can't afford to miss this trade. I've been trading it actively since they received FDA approval for their Alzheimer's drug a while back.
The current setup looks very strong and implies a massive uptrend can start from right here.
Best of luck!
Ivan Labrie.
Biogen testing channel supportBiogen 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.
BIIB earningsBiogen (BIIB) earnings are on Wednesday, July 19th, 2023, at 7:15am. Biogen (BIIB) reported Q1 March 2023 earnings of 3.40 per share on revenue of 2.5 billion. The consensus earnings estimate was 3.25 per share on revenue of 2.4 billion. The company said it continues to expect 2023 earnings of 15.00 to 16.00 per share. The current consensus earnings estimate is 15.47 per share for the year ending December 31, 2023.
Q2 June 2023 Consensus:
EPS = 3.70
Revenue = 2.38 B
PE = 12.7
100SMA = 290
200SMA = 279
BIIB 1 day (24hr ext.) chart TTCATR 20VWMA levels:
R3 = 317
R2 = 309
R1 = 302
pivot = 294
S1 = 286
S2 = 279
S3 = 271
Options data:
7/14 expiry
Put Volume Total 723
Call Volume Total 2,716
Put/Call Volume Ratio 0.27
Put Open Interest Total 257
Call Open Interest Total 1,277
Put/Call Open Interest Ratio 0.20
7/21 expiry
Put Volume Total 602
Call Volume Total 2,380
Put/Call Volume Ratio 0.25
Put Open Interest Total 5,614
Call Open Interest Total 10,199
Put/Call Open Interest Ratio 0.55
8/18 expiry
Put Volume Total 206
Call Volume Total 726
Put/Call Volume Ratio 0.28
Put Open Interest Total 436
Call Open Interest Total 795
Put/Call Open Interest Ratio 0.55
BIIB next up target 450 and then 1080Biogen getting ready to break the long consolidation, next upside target is 450, once that is broken expect to hit 1080.
BIIB consolidation might get to end and a new move up possible.BIIB shares might the consolidation channel and prepare a move higher.
The reason would be that the market discounts the potential sales CAGR for Alzheimer's drugs, reimbursements being an issue.
If the problem gets solved, BIIB gets a clear path towards higher valuation.
BIIB - Head and ShouldersOn the chart, we can see a head and shoulders forming.
It's currently at the neckline, from which a breakout will activate our short position.
Both MACD and RSI are showing bearish crossings.
More info is shown on the chart.
Good luck!
Alzheimer's drug, from $BIIB and EisaiAccording to MarketWatch, The FDA approved the
Alzheimer's drug Legembi from
Eisai and Biogen
A quick look at the daily charts for $BIIB shows that it's already trading on or above major moving averages (ie. 9,21,50 SMA's). Also, seeing as this is a nice, green day for the SPY and BIIB has been beaten down recently, it's a nice long option for medium term traders and investors in general.
If I were to go long, a nice R:R profit target would be the top of the Bollinger bands with a stop loss below the "fast" moving average in use.
Good luck.
BIIB ShortIn downtrend, bounced back to Supply zone
Current Monthly chart price range 73 - 217
Earning 7/26/2022 Estimate 4.09
Short 200
Stop 220
Target 140
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
BIIB daily bearish hammer end of wave 5 expect correctionOrder SELL BIIB NASDAQ.NMS Stop 278.12 LMT 278.12 will be automatically canceled at 20230401 01:00:00 EST
BIIB daily bearish hammer end of wave 5 expect correction at the very least
$BIIB with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $BIIB after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
BIIB daily bearish hammerOrder SELL BIIB NASDAQ.NMS Stop 249.27 LMT 249.27 will be automatically canceled at 20230401 01:00:00 EST
BIIB daily bearish hammer
