Commodities: CHART Biogen Idec ST: the downside prevails as long as 278.2 is resistance


 
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https://charts.tradingcentral.com/charts/biibusd170408001555.gif

Our pivot point stands at 278.2.

Our preference:the downside prevails as long as 278.2 is resistance.

Alternative scenario: the upside breakout of 278.2 would call for 287.6 and 293.3.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 276.46 and 278.78).

Supports and resistances:

293.3 **

287.6 *

278.2 **

274.6

268.73 last

256.1

250.7 **

245.1 *

239.5 **

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