Biogen Idec may rise to 254.10 - 260.20

Our pivot point stands at 219.8.

Our preference

As long as 219.8 is support look for 254.1.

Alternative scenario

The downside breakout of 219.8 would call for 209.7 and 203.8.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 228.287 and 221.0954).

Supports and resistances

266.3 **

260.2 *

254.1 **

247.7

232.19 (USD-last)

223.9

219.8 **

209.7 *

203.8 **

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