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After Yesterday's Rally of 1.22% Shares Could Potentially Pullback

By Nick Russo

Biogen Inc (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $346.06 to a high of $354.28. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $347.82 on volume of 370,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Biogen Inc on December 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $326.64. Since that recommendation, shares of Biogen Inc have risen 6.4%. We continue to monitor BIIB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Biogen Inc share prices have moved between a 52-week high of $354.28 and a 52-week low of $223.02 and are now trading 58% above that low price at $351.96 per share. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.2%.

Keywords: rebounders biogen inc

Ticker(s): BIIB