BIIB shares jumped more than 18%
Monday, October 15, 2007
Chart courtesy of stockcharts

Shares of the Biogen were up today more than 18% to $82.51 after early in the morning company said it may sell itself and has attracted some interest from potential buyers. Stock immediately react to this news sending shares to a new 52 week year high, breaking also a key resistance that has been $69. Looking at the chart above, stock is trading in a clear Bullish momentum with its averages lines all going up and indicators following the same way. RSI is now in Overbought conditions, so a pull probably should occur soon, so keep an eye on BIIB in the sessions ahead.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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posted by Pro Investor Trader at 1:21 PM | Permalink


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