Nov. 14 at 11:53 PM
$BIIB is currently trading at
$167.55, showing a strong upward momentum with an RSI of 74.74, indicating overbought conditions. The price is above both the 30-day moving average (MA30) of 151.34 and the 50-day moving average (MA50) of 148.37, suggesting a bullish trend. However, the high of
$169.00 within the last 60 days presents a resistance level, while the low of
$131.52 indicates significant support.
Given the overbought RSI, a pullback could occur, making it prudent to wait for a slight dip. Suggested entry is around
$165.00, with a stop loss at
$162.00 to manage risk. Target 1 is set at
$170.00, aligning with the 60D high, while Target 2 is at
$172.00, allowing for further upside potential if momentum continues.
Overall, the analysis suggests a bullish bias, but caution is warranted due to the current RSI level.
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