viernes, 18 de julio de 2014

BIIB Biogen Idec Stock Analysis and Forecast. Last Price $299.29 (-1.47%) 07-18-2014

BIIB Biogen Idec Stock Analysis and Forecast. Last Price $299.29 (-1.47%)   07-18-2014.
Hi mates, Today I would like to analyze BIIB, my favourite biotech stock. First of all I have to say that I´m on the beach and it´s difficult to write in the blog ( I have a poor internet signal). However I´ll try to write some analysis this summer.

If you want to review previous analysis (fundamentals..) of this stock you can find them on the directory (on the right of the screen).
Anyway, let´s see the chart.

Supports and Resistances.
S1:$300 S2:$271 R1:$318 R2:$332

Yesterday´s close was below the S1. In my opinion today the stock will recover this support and will bounce. (While I´m writting this words the stock is at $305 after hours).

The MACD is below zero and below the signal.

The RSI is at 36%. Looking the historical RSI is oversold.

The Stochastic is at 9%. Very very oversold.

If you take a look inside the CCI you can see how in July 17 the CCI bounced. I think is a signal that this stock will bounce soon.
I don´t know what´s going on with this stock may be the investors are afraid of Yellen´s speech but we have a good references from Deuche Bank for instance. 
Citi sees a plenty of Q2 earnings beats ahead  on biothech sector.
The  optimal buy range for this stock is  [305;309.18]. Actually 
the price is inside the optimal buy range.

The Actual targets for this stock are:
TG1:$316.84 TG2:$328.3 TGext:$346.84
The consensus average target price is $359.64

We´re in front of a great company with a huge pipeline. Actually the price is oversold so in my opinion it´s time to buy. with the Q2 ahead it´s probably that this stock rally again and take the $324 price level soon.