Biogen has a monster trade brewing here, can't afford to miss this trade. I've been trading it actively since they received FDA approval for their Alzheimer's drug a while back.
The current setup looks very strong and implies a massive uptrend can start from right here.
Best of luck!
Ivan Labrie.
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It's been two months since the signal and the stock got stuck at resistance once again.
It's uncertain if support will hold here but this area should prove to be support if the monthly uptrend has any merit.
If it doesn't move any higher in one more month it's probably going to erase the breakout move. You can see it has failed to trend after hitting the upper Bollinger band, illustrating the point that the stock remains range bound long term.
I don't think FDA approval has been given for Biogen's Alzheimer's drug ... I saw this from Reuters but it's coming soon in July ...
June 9 (Reuters) - A panel of expert advisers on Friday unanimously agreed that a late-stage trial of Eisai (4523.T) and Biogen's (BIIB.O) Alzheimer's drug Leqembi verified the benefit of the treatment for those at an early stage of the disease, clearing the way for traditional U.S. approval.
All six advisers on the panel voted in favor of Leqembi for treatment of the mind-wasting illness.
Regular approval by Food and Drug Administration - a decision expected by July 6 - is likely to expand Medicare payment for the treatment.
IvanLabrie
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@dhhteo, the FDA granted an accelerated approval for lecanemab, during January, a process that allows a new drug to be approved before it has gone through all of the required testing. It's given to experimental drugs.
indeed the setup looks promising, i am curious if it will end as well as it looks. most of the time the market does something different than what the majority thinks or hopes.
joy.doshi
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What may be the target ? 350, or above 400 !!
At one point I was optimistic that this stock can be $600.
June 9 (Reuters) - A panel of expert advisers on Friday unanimously agreed that a late-stage trial of Eisai (4523.T) and Biogen's (BIIB.O) Alzheimer's drug Leqembi verified the benefit of the treatment for those at an early stage of the disease, clearing the way for traditional U.S. approval.
All six advisers on the panel voted in favor of Leqembi for treatment of the mind-wasting illness.
Regular approval by Food and Drug Administration - a decision expected by July 6 - is likely to expand Medicare payment for the treatment.