BIIB came out a nice Gartley Pattern on 4/22.
First stop should be the $277 area as AB=CD, where I would think there will be some profit taking.
Upside targets ($290+) are shown as this evolves into a possible Deep Crab Harmonic Pattern.
Biogen needs FDA drug approval, descent earning against healthy market backdrop for this to happen.
In higher time-frames you may also have a cup and handle formation.
As usual do your own DD
S.
First stop should be the $277 area as AB=CD, where I would think there will be some profit taking.
Upside targets ($290+) are shown as this evolves into a possible Deep Crab Harmonic Pattern.
Biogen needs FDA drug approval, descent earning against healthy market backdrop for this to happen.
In higher time-frames you may also have a cup and handle formation.
As usual do your own DD
S.
Note
An update...Note
Biogen rallied to our $277+ level and backed off as expected.It would not surprise me to see some consolidation here and then and run up to the upper D level provided we remain in a healthy broad market
Note
Acting quite well..
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.