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Biogen Inc Rises 1.17% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Biogen Inc (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $279.51 to a high of $284.30. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $281.34 on volume of 512,000 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 Inc have traded between a low of $223.02 and a high of $333.65 and are now at $284.08, which is 27% above that low price. 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 Inc on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $262.53. Since that recommendation, shares of Biogen Inc have risen 7.0%. We continue to monitor BIIB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders biogen inc

Ticker(s): BIIB