Thursday, September 13, 2007

BIIB- Time to Bail

BIIB was downgraded today by UBS from Neutral to Sell. Might be a good time to get out of this stock or even consider shorting it back down. Volume has been declining this week except for today. Nice bullish spike in volume which is a bummer since the downgrade wasn't announced until after hours. After hours BIIB is now down 1.00 at 64.40. A 1.53% decline.


MACD is also showing the beginning of a downward trend. RSI looks strong but because of the bullish volume today. Tomorrow's close should be completely different. Stock is also coming down from it's resistance level of around 66. There isn't much support until 59 where the stock might catch itself.




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