Biogen Idec may rise to 248.20 - 254.60

Our pivot point is at 216.

Our preference

As long as 216 is support look for 248.2.

Alternative scenario

Below 216, expect 205.4 and 199.1.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (226.535) but above its 50 day moving average (214.7006).

Supports and resistances

261.1 **

254.6 *

248.2 **

241.8

225.98 (USD-last)

220.2

216 **

205.4 *

199.1 **

Number of asterisks represents the strength of support and resistance levels.