Thursday, November 10, 2022 5:30 AM EDT

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Biogen Inc., Elliott Wave Technical Analysis
Biogen Inc., (Nasdaq: BIIB) Daily Chart, November 10, 2022,
BIIB Stock Market Analysis: Looking for a five waves sequence to the upside to find an end soon as we are identifying a potential ending diagonal in wave 5 of (1).
BIIB Elliott Wave Count: Wave 5 of (1).
BIIB Technical Indicators: Above all EMA.
BIIB Trading Strategy: Looking for a clear three-wave move pullback before considering any long-term longs.
Analyst: Alessio Barretta

Biogen Inc., BIIB: 4-hour Chart, November 10, 2022
Biogen Inc., Elliott Wave Technical Analysis
BIIB Stock Market Analysis: There is a possibility wave 5 has already finished and we are ready to start moving lower.
BIIB Elliott Wave count: Wave {v} of 5.
BIIB Technical Indicators: Above all EMAs and RSI have formed bearish divergence.
BIIB Trading Strategy: As the RSI has formed divergence we could expect a sudden and sharp drop anytime soon. Looking to take advantage of those short-term opportunities to the downside.

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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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