The Power Of Big Biogen News
This is a Post from the Symbol Surfing Blog from Fri, Jul 6, 2018.
Probably the biggest story in the stock market today was Biogen.
Biogen Alzheimer's Drug Success
As a result, the stock was up over 19% today.
Fortunately, I bought a few shares on Fri, Mar 16 at $291.
I bought for several fundamental and technical reasons.
Even though the stock is now close to the 52 week high, which is bullish, I decided to sell today and lock in my profits.
Why did I sell?
Simply put, the stock price is near the top of the trading range I highlighted in my previous post.
From a technical standpoint, that made the decision to sell pretty easy while limiting the emotions of fear and greed.
I mentioned the $350 price level and I sold at $355.
Overall, it was a 22% return.
Obviously, this unexpected big announcement caught everyone by surprise.
Fortunately, it was a positive announcement.
If you are new to stock market investing you should be aware that almost all companies report 4 big announcements every year on publicly disclosed dates.
It is called the earnings announcement.
The earnings announcement can move the stock price quite a bit.
So you don't get caught off guard, I highly recommend using an earnings calendar on a regular basis.
What do you think about "The Power Of Big Biogen News"?
Let me know in the comments section!
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