Biogen Idec (BIIB) Approaches New Downside Target of $198.55

Published on Thu, 06/20/2013 - 13:04
By Adrienne Chilton in Pivot alerts, biib, biogen idec, nasdaq:biib, pivot alerts

Shares of Biogen Idec (NASDAQ:BIIB) opened today below their pivot of $206.22 and have already reached the first level of support at $201.17. Should the shares continue to fall, the support pivots of $198.55 and $190.88 will be of interest.

Biogen Idec share prices have moved between a 52-week high of $242.64 and a 52-week low of $134.00 and are now trading 50% above that low price at $200.55 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

Potential upside of 11.1% exists for Biogen Idec, based on a current level of $200.55 and analysts' average consensus price target of $222.86. The stock should find resistance at its 50-day moving average (MA) of $217.64, as well as support at its 200-day MA of $171.25.

Biogen Idec Inc. develops, manufactures, and commercializes therapies, focusing on neurology, oncology, and immunology. The Company's products addresses diseases such as multiple sclerosis, non-Hodgkin's lymphoma, rheumatoid arthritis, crohn's disease, and psoriasis.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Shares of Xerox Rise Above Previous 52-W...

Shares of Xerox (NYSE:XRX) traded today at $13.29, breaking its 52-week high. So far t ...

Recent 52-Week High Exceeded in Shares o...

Shares of Weingarten Realty Investors (NYSE:WRI) traded at a new 52-week high today of ...

Shares of VCA Antech Rise to a New 52-We...

VCA Antech (NASDAQ:WOOF) traded at a new 52-week high today of $39.50. So far today ap ...

Westmoreland Coal: The Winning Streak Co...

Shares of Westmoreland Coal (AMEX:WLB) traded at a new 52-week high today of $43.45. T ...

Shares of Windstream Rise Above Previous...

Windstream (NASDAQ:WIN) traded today at a new 52-week high of $10.57. Approximately 3. ...

Titan International: The Losing Streak C...

Shares of Titan International (NYSE:TWI) traded today at $13.97, breaking its 52-week l ...

Tupperware Brands: New 52-Week Low Set T...

Shares of Tupperware Brands (NYSE:TUP) traded at a new 52-week low today of $73.72. Th ...

Watch for Continued Gains in Shares of T...

Shares of TriQuint Semiconductor (NASDAQ:TQNT) traded today at $18.50, breaking its 52- ...