Biogen Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=7561)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=7561)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=7561)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Biogen Inc.
(Updated on Jun 14, 2024)
The Biogen Inc. stock price fell by -0.0925% on the last day (Friday, 14th Jun 2024) from 216.30€ to 216.10€. During the last trading day the stock fluctuated 1.20% from a day low at 216.00€ to a day high of 218.60€. The price has risen in 6 of the last 10 days and is up by 4.45% over the past 2 weeks. Volume has increased on the last day by 121 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 219 shares were bought and sold for approximately 47.33€ thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 216.65€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.12% during the next 3 months and, with a 90% probability hold a price between 214.11€ and 240.74€ at the end of this 3-month period.
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IDP.F Signals & Forecast
The Biogen Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 213.44€ and 206.97€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -0.0925%. Further fall is indicated until a new bottom pivot has been found. Biogen Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Biogen Inc. stock
Biogen Inc. finds support from accumulated volume at 214.80€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 2.60€ between high and low, or 1.20%. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: 210.54€ (-2.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (IDP.F) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Biogen Inc. to open at 216.90€, and during the day (based on 14 day Average True Range), to move between 211.57€ and 220.63€, which gives a possible trading interval of +/-4.53€ (+/-2.10%) up or down from last closing price. If Biogen Inc. takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 216.30€ (0.09%) than the support at 214.80€ (0.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Biogen Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Biogen Inc. stock to perform well in the short-term.
Current score: 1.957 Buy Candidate Unchanged
Predicted Opening Price for Biogen Inc. of Monday, June 17, 2024
Fair opening price June 17, 2024 | Current price |
---|---|
216.90€ ( 0.370%) | 216.10€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDP.F
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 219.50 | 1.57% |
R2 | 218.51 | 1.11% |
R1 | 217.89 | 0.83% |
Price | 216.10 | |
S1 | 215.91 | -0.0894% |
S2 | 215.29 | -0.373% |
S3 | 214.30 | -0.83% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 216.30 | 0.0925% |
Price | 216.10 | |
S1 | 214.80 | -0.602% |
S2 | 214.20 | -0.88% |
S3 | 201.80 | -6.62% |
FAQ
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