Elliott Wave Technical Analysis: Biogen Inc. - Thursday, Nov. 10

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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 ...

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