Our mission: top notch forecasts with our forecasting method + catch mega opportunities.

Biogen Stock Crash: Opportunity or Concern?

Today, Biogen, one of the largest biotech stocks (IBB) lost 29 pct. Is this an opportunity to get in at low prices? Or is this just the start of something much bigger? Note that biogen is not part of our top 3 tech stocks nor did we include it in our top 5 stocks for 2019.

We are going to propose a test in this article.

You are not allowed to look for any information on what happend with Biogen today.

Intuitively, investors would start looking for information to understand what exactly happened with Biogen in the Biogen financial news stream. As if we cannot predict what financial media will be talking about: “the plunge that wiped out x billion of dollar” and the likes.

It doesn’t make sense to look for news, we all know what it will look like.

The experiment is to avoid news, and only focus on the charts of Biogen.

As per our 100 investing tips we should check the daily, weekly and monthly charts and look for dominant patterns on each one of them.

In this article we only focus on the monthly chart though as it reveals the most information. It shows how Biogen fell exactly to the support line of its long term consolidation.

The monthly chart which shows the dominant trend(s) says that this may be an opportunity PROVIDED that the current price level holds strong.

Especially monthly closes are crucial. So if Biogen continues to trade above $226 in the next few months, at the last day of each month, it will likely be an buy opportunity.

biogen stock
 
INVEST NOW IN CRYPTO & BLOCKCHAIN: Get access to our first aggressive BUY alert in 15 months! Find out our top 10 cryptocurrencies to buy and top 10 blockchain stocks to buy NOW. Get instance access to our crypto & blockchain investing service + portfolio >>
Share This