Biogen, week 10: +3.4% confirms the double bottom
Biogen gains 3.4% and confirms its double bottom in the 189 area
Biogen, week 10: +3.4% confirms the double bottom
Our view last week
Biogen shares, weekly technical analysis: the stock shed 7.9% this week but carved a clean double bottom in the 189 area, rebounding 10% off the lows. The trade's gain has slipped from 11.72% last week to 2.95% now: the buy signal is in its ninth week and the stop still sits at breakeven, risk zeroed out while the technical picture catches its breath.
This week's summary
Biogen shares, weekly technical analysis: the stock added 3.4% this week, confirming the double bottom in the 189 area with an 18% rebound. But the push is losing its shine: buyer dominance is fading and daily volume still favors sellers. Price is now boxed in a tight corridor between support and resistance, with earnings two weeks out adding weight to the timing.
IQS Phase
51
ordinary
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#47 / 112
US stocks in progress
Trade P&L %
+6.48%
from signal to today
restricted Platinum content