Trading Ideas That Paid – BIIB

Shares of Biogen Idec Inc (BIIB) ascended to a new 52-week high in Monday trading session, jumped 7.2% on strong volume to 78.55 after the company released positive Phase III data for its multiple sclerosis drug candidate BG-12. This is definitely a positive sign going forward. In fact, as the chart below indicated, BIIB could follow the so-called trend channel higher, heading toward the 3-year high after breaking out from the bullish flag pattern. Just so that you know, initially profiled in our December 28, 2010 “Swing Trader BulletinBIIB had gained about 18% and remained well position.

The graphics below are from our “U.S. Market ETF Trading Map”, which shows the near-term technical bias for BIIB and the S&P 500 index. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

Chart 1.1 – Biogen Idec Inc (daily)

Click here to read a detail technical analysis.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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