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Biogen Could Go Either Way - Mixed Indicators and Charts

Bruce Kamich

In this daily bar chart of BIIB, below, we can see that prices have been drifting lower from July. The volume histogram right below the price chart is hard to read and interpret but the daily On-Balance-Volume (OBV) line shows a positive trend the past 12 months. The OBV line has been strong from the end of December even while prices have made lower highs - either buyers of BIIB are very skilled and have stopped short of pushing prices up or the rising OBV line has not been strong long enough to tip the scales to the upside.