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After Yesterday's Rally of 2.92% Shares Could Potentially Pullback

By James Quinn

Biogen Idec (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $252.94 to a high of $259.31. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $257.38 on volume of 738,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $259.22, which is 16% 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 is monitoring the recent change of momentum in Biogen Idec. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Biogen Idec in search of a potential trend change.

Keywords: rebounders Biogen Idec

Ticker(s): BIIB