Biogen has a lot going on
I screened on Barchart for the S&P 100 companies having the most frequent new highs and Biogen Idec (BIIB) had 9 new highs and is up 15.33% in just the last month. The company has a very, very nice balance sheet with 1.2 billion in cash and a debt to capital ratio of only 16%. It has began to repurchase stock and will have cash to buy into new products. Carl Ichan is one of the major stock holders so a buy out take over can't be ignored. I'm looking at the stock momentum.
Barchart technical indicators:
1 - 100% Barchart technical buy signal
2 - Trend Spotter buy signal
3 - Above its 20, 50 and 100 day moving averages
4 - 9 new highs and up 15.33% in the last month
5 - Relative Strength Index 77.87% and rising
6 - Trades around 107.74 with a 50 day moving average of 96.03
Summary: Biogen Indec (BIIB) has momentum with 9 new highs and up 15.33% in the last month, an extremely conservative balance sheet and analysts looking for increases in earnings over the next 5 years.
Jim Van Meerten is a Marketocracy Master