1. In Tuesday’s (Aug. 12) live meeting, Biogen (then trading at approximately $322) was forecast as a buy at or above $319 for a tradable advance to $342 (or higher).
2. Friday’s (Aug. 15) Biogen session completed the $342 upside target where a majority of the above noted long position was exited.
3. The next important daily market top for Biogen is Tuesday, Aug. 19 (+/-1 day). Therefore, daily closes below $349 are the weaker position and will indicate a multi-day decline.
4. Any remaining long position should place a protective sell stop at $338. This stop will be moved higher if the market continues to confirm.
1. Our previous Biogen report and live meeting indicated new long entry at $322 (or higher) for a tradable advance to $342 (or higher).
2. After completion of the $342 upside target our protective stop was raised to $338. This stop was hit in today’s session, completing a successful trade. Will message any further entry or indication in Biogen.