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Biogen Idec Crosses Above its 10-day MA (BIIB)

By James Quinn

Today, shares of Biogen Idec (NASDAQ:BIIB) have advanced above their 10-day MA of $313.69 on a volume of 311K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Biogen Idec have traded between a low of $223.02 and a high of $420.99 and are now at $317.49, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.96% lower and 0.24% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Biogen Idec on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $247.44. Since that recommendation, shares of Biogen Idec have risen 26.6%. We continue to monitor BIIB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Biogen Idec

Ticker(s): BIIB