Biogen has lost over 30% of its value this month. Looking at the monthly chart, we have concluded that this is a rare investment opportunity as the current price is just above its 1M Support Zone.
Historically we see that such an aggressive sell off recently took place in 2015 - 2016 and again the stock managed to recover almost reaching the 390 Resistance again. This pattern may be similar to the one the long term (~10 year) consolidation that took place after the 2000 peak. The price then traded sideways roughly within 17.00 - 71.00, providing a buy opportunity on every major pull back.
We believe such an opportunity is presented now. Every dip near the 180 - 205 Support Zone can be bought with 350 - 390 as the Target Zone.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Historically we see that such an aggressive sell off recently took place in 2015 - 2016 and again the stock managed to recover almost reaching the 390 Resistance again. This pattern may be similar to the one the long term (~10 year) consolidation that took place after the 2000 peak. The price then traded sideways roughly within 17.00 - 71.00, providing a buy opportunity on every major pull back.
We believe such an opportunity is presented now. Every dip near the 180 - 205 Support Zone can be bought with 350 - 390 as the Target Zone.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.