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1BIIB trade ideas

#BIIB #Long #stock #roundedbottomBIIB looks to be setting up a rounded bottom. I set a stop at the $310 mark because the is where it gapped down and made several failed attempts to recapture the up side. It finally did so with a powerful move at the end of august. I think this stock is going to get carried away with many of the other BIOTECH stocks. If you have looked at the XBI and the IBB recently you would have noticed the charts look good. MACD poking up, OBV poking up, stoch RSI setting up for an up run. again series of higher highs and higher lows recently. Weekly MACD looking up, obv ok, stoch RSI ok, on the monthly the stock has started to make a series of higher highs and higher lows
NASDAQ:BIIBLong
by The_Patterns_Guy
BIIB: Falling Over 'Good' FundamentalsHuge biotech stocks are collectively getting hit in recent days. BIIB has announced results on 24/10/17, beating top and bottom line expectations but stock still gap down and closed 3.9% down. Prices fail to break above the top of the trendline measuring from Minute Wave ((a)) and reverse from the 100% fibonacci projection similarly from Minute Wave ((a)). This is strong evidence of the relevancy of Minute Wave ((a)). From a technical view, BIIB has seemingly completed a textbook A-B-C consolidation. The recent high on 18/10/17 appears to be the final consolidation high. Stock might attempt to retest this high $348.84 before continuing falling. A successful re-test of this high will bring the stock down to its 24/06/17 low at $205.42. A break above its recent high $348.84 will invalidate this analysis and imply a more complex consolidation on a larger scale.
NASDAQ:BIIBShort
by ElliotWaveTrades