OptionsPlay DailyPlay

The bullish DailyPlay we chose for Thursday Nov 30th is Biogen (BIIB). BIIB is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 1.96% move higher and its 1m and 6m trend has turned bullish on 11/28 and recently broke above its $82 resistance level.

Biogen’s 1m and 6m trends turned bullish yesterday and recently broke above its 50D SMA and $315 resistance level which now becomes support. With a technical score of 8 (out of 10), BIIB is a strong bullish stock that is likely to continue higher.

View this Trade Idea on BIIB

As a stop loss, if BIIB was to trade below $315 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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