Biogen Idec may fall to 169.70 - 173.40

Our pivot point stands at 193.8.

Our preference

The downside prevails as long as 193.8 is resistance.

Alternative scenario

Above 193.8, look for 200 and 203.8.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 192.1435 and 198.602).

Supports and resistances

203.8 **

200 *

193.8 **

191.3

188.55 (USD-last)

177.1

173.4 **

169.7 *

166.1 **

Number of asterisks represents the strength of support and resistance levels.