Hi mates, How you doing? I was a little bit busy last week but I want to work in this blog because it´s very exciting the financial markets. Last week I was doing the math about create a financial advisory company in my country. However the regualtions are very strict in my country and demands a lot of money to start a company in this sector.
Anyway, Today I would like to analyze BIIB my favorite biotec company.
Let´s see the Chart.
Supports and Resistances.
S1:296.55 S2:305.41 R1:320.69 R2:339.66
As you see the price is nowvery close to the support and finishing the flat pattern (elliot waves). the price should start the 1rd Elliot wave soon( uptrend serie).
The price is inside an uptrend Channel, actually is in the low level.
The MACD is above zero and below the signal. It´s seems to me flat.
The RSI is at 50%.
The stochastic is inside the oversold zone and from my point of view will bounce soon.
The DMI is flat and the +DI will cross the -DI in the next sesions.
Buy range. I think a good range to buy is [307;310]
with the targets:
TG1:$329 TG2:$343 TGext:$366.62
I think this company has a good upside potencial. There´s good news for some of its investigations. It´s probably this stock will be above 320 soon.
I recomend to buy this stock and look for the targets.
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