Wednesday, May 10, 2017 11:58:46 AM
One of the leading biotechnology stocks that has been under pressure recently is Biogen Inc (NASDAQ:BIIB). This stock has been selling off since the company reported earnings on April 25th, 2017. On that day, BIIB stock traded as high as $291.90 a share. Since that time, the bio-tech giant has dropped lower by nearly $34.00. Currently, BIIB stock is trading at $258.86 a share.
Traders and investors should note that the charts are signaling institutional support around the $250.00 area. This is a solid whole round number that the institutional traders and investors usually like to play. It is also a level where the stock was defended in the past. Traders should note that this trade level was chart support in late January 2017 and late October 2016. Very often, past support levels will be solid levels for bounces when retested.
Nicholas Santiago
InTheMoneyStocks
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM