According to MarketWatch, The FDA approved the
Alzheimer's drug Legembi from
Eisai and Biogen
A quick look at the daily charts for $BIIB shows that it's already trading on or above major moving averages (ie. 9,21,50 SMA's). Also, seeing as this is a nice, green day for the SPY and BIIB has been beaten down recently, it's a nice long option for medium term traders and investors in general.
If I were to go long, a nice R:R profit target would be the top of the Bollinger bands with a stop loss below the "fast" moving average in use.
Good luck.
Alzheimer's drug Legembi from
Eisai and Biogen
A quick look at the daily charts for $BIIB shows that it's already trading on or above major moving averages (ie. 9,21,50 SMA's). Also, seeing as this is a nice, green day for the SPY and BIIB has been beaten down recently, it's a nice long option for medium term traders and investors in general.
If I were to go long, a nice R:R profit target would be the top of the Bollinger bands with a stop loss below the "fast" moving average in use.
Good luck.