Friday, January 25, 2008

BIIB Can't Move Higher; Sell


BIIB is currently trading at 58.62. It could still move a bit higher from here but it looks like the 200 sma is keeping it from moving significantly higher. I would look to sell right around this level or 59. Be aware of a break above the 200 sma as it could lead to a rally up to the 50.

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