Nov. 13 at 1:34 AM
$BIIB: The last close at
$159.39 indicates a strong position within the recent trading range, with the 60D high at
$160.2 acting as a resistance level. The RSI at 69.76 suggests that the stock is approaching overbought territory, which may lead to a pullback. However, the stock remains above both the 30-day MA of
$150.52 and the 50-day MA of
$146.93, indicating a bullish trend in the medium term.
Directional bias is cautiously bullish, but with an awareness of potential short-term corrections due to the elevated RSI. Suggested entry is at
$158.00 to capitalize on potential upward momentum. Set a stop loss at
$155.00 to manage risk. Target 1 is
$162.00, just above the 60D high, and Target 2 is
$165.00, allowing for further gains if the bullish trend continues.
Monitor market conditions closely, as a reversal could occur if the RSI declines significantly.
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