The “Chart of the Day” is Biogen Idec (BIIB), which showed up on Wednesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. BIIB on Wednesday rallied by 0.67% to post a new 7-month high of $59.21. A continued rally above the 2-1/4 year high of $60.28 posted in March would be a particularly bullish technical signal. Biogen Idec, with a market cap of $14 billion, is biopharmaceutical company engaged in targeted therapies for the treatment of cancer and autoimmune and inflammatory diseases.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “Trading Signals” page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter “Buy” category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the “Today’s Opinion” column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart’s Opinion trading systems are mostly bullish and Barchart’s daily TrendSpotter trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Sell
Chart of the Day provided by www.Barchart.com.
