Is Biogen Stock Sizing Up for a Value Play? | $BIIB Technical Analysis

Описание: Biogen stock had quite a day in the stock market on March 15th when this was filmed as news broke that competitor Eli Lilly broke that their drug was falling short of expectations from the notes over the weekend therefore putting the drug from Biogen in the spotlight of the FDA.

The FDA is currently considering whether to approve Biogen’s (BIIB) Alzheimer’s disease drug, aducanumab, on the basis of a single positive trial. In a nutshell because of the issues that Eli Lilly has been experiencing then there is a margin of error that is causing concern for investors on both fronts.

LLY stock dropped 9.09% in the market today at the close and BIIB stock didn't close much better coming in under 2.25% at the point of close of the market. This news is shaking up the pharma industry for sure as Alzheimer's disease has been one of those diseases that is still a lot of unknown territory.

All that said, there is still some good that can come from this stock. With it coming down and the PDUFA date on the horizon for them, there is some value to be had with this stock.

TraderMo will go through BIIB technical analysis with you to see just how these graphs depending on what you are looking to do with this stock can do for you and what to look for as key indicators.
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