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

By Nick Russo

Today, shares of Biogen Idec (NASDAQ:BIIB) have crossed bullishly above their 10-day moving average of $309.85 on a volume of 694K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Biogen Idec share prices have moved between a 52-week high of $420.99 and a 52-week low of $223.02 and are now trading 41% above that low price at $313.48 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 1%.

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 23.7%. 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