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JimVanMeerten (63.10)

Biogen has a lot going on

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June 29, 2011 – Comments (0) | RELATED TICKERS: BIIB

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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

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