SSS - Biogen Idec (BIIB) Late-Stage Failed-Base (LSFB) Short-Sale Set-Up

Published : October 23 2014 at 9:54 ET

Biogen Idec (BIIB) gapped down yesterday on heavy volume following its earnings report. The stock is now a confirmed late-stage base failure using rallies into the 200-day moving average at 316.89 to short into. The 200-day line then serves as a nearby guide for an upside stop. The stock is currently within 1% of its 200-day line and could be shortable at any point here.

We currently have a position in the stock.

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