Biogen Idec may fall to 177.60 - 183.90

Our pivot point stands at 222.3.

Our preference

The downside prevails as long as 222.3 is resistance.

Alternative scenario

The upside breakout of 222.3 would call for 233.6 and 240.2.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 222.738 and 224.9054). Finally, Biogen Idec has penetrated its lower daily Bollinger band (205.72).

Supports and resistances

240.2 **

233.6 *

222.3 **

218

205.66 (USD-last)

190.4

183.9 **

177.6 *

171.3 **

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