Barchart.com's Chart of the Day - Biogen Idec (BIIB)
The "Chart of the Day" is Biogen Idec (BIIB), which showed up on Tuesday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. Biogen Idec on Tuesday rallied by 2.60% and posted a new 2-1/2 year high of $70.73. Biogen Idec was last featured in "Chart of the Day" on October 21, 2010 with the stock near $58.66. In recent news on the stock, RBC Capital on Feb 24 upgraded Biogen to Outperform from Sector Perform and raised the price target to $75 from $60 on optimism that the company can beat consensus earnings and that the company's pipeline has upside potential. Biogen Idec, with a market cap of $16 billion, is a biopharmaceutical company engaged primarily in targeted therapies for the treatment of cancer and autoimmune and inflammatory diseases.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart's Opinion trading systems are mostly a Buy and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart links for further information:
Quotes and Charts
Quote
Detailed Quote
Chart
Technical Analysis
Technicals Summary
Trader's Cheat Sheet™
Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies
Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual
Chart of the Day Archive
View Past Chart of the Day Reports
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
Barchart's Opinion trading systems are mostly a Buy and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 60% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Barchart links for further information:
Quotes and Charts
Quote
Detailed Quote
Chart
Technical Analysis
Technicals Summary
Trader's Cheat Sheet™
Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies
Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual
Chart of the Day Archive
View Past Chart of the Day Reports
Jim Van Meerten is an analyst for Marketocracy Capital Management. He shares his knowledge and experience from over 40 years of investing in stocks, mutual funds and ETFs on Barchart.com in his daily blog -- Barchart Portfolio Blogs.
Through Marketocracy Capital Management you can have a Separately Managed Account that mirrors his Barchart Van Meerten New High model portfolio.
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