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

By Nick Russo

Today, shares of Biogen Idec (NASDAQ:BIIB) have crossed bearishly below their 10-day moving average of $238.34 on a volume of 558K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Biogen Idec have traded between the current low of $231.50 and a high of $420.99 and are now at $234.43. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Biogen Idec on June 7th, 2016 by issuing a Downtrend alert when the shares were trading at $257.80. Since that call, shares of Biogen Idec have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Biogen Idec

Ticker(s): BIIB