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Biogen Trying To Close In On Key Technical Measure

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The Relative Strength ( RS ) Rating for Biogen ( BIIB ) entered a higher percentile Thursday, as it got a lift from 70 to 73.

[ibd-display-video id=2385970 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.

History reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves. See if Biogen can continue to show renewed price strength and clear that threshold.

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Biogen broke out earlier, but has fallen back below the prior 335.90 entry from a cup with handle . In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also keep in mind that the most recent consolidation is a later-stage base, and such bases are more prone to failure.

Earnings growth rose last quarter from -3% to 22%, but sales fell from 6% to 4%. The next quarterly numbers are expected on or around Jan. 26.

Biogen earns the No. 12 rank among its peers in the Medical-Biomed/Biotech industry group. Corcept Therapeutics ( CORT ), Ligand Pharmaceuticals ( LGND ) and Vertex Pharmaceuticals ( VRTX ) are among the top 5 highly rated stocks within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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