Biogen (BIIB) reaches low of range

The basics:
Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurological diseases to patients worldwide. I expect this industry to continue to grow as new advancements are made.


Trade Idea:
Since September of 2013 Biogen has been trading in a range between 205 and 440. If we remain in this trading range, the upside potential could be close to 100%. While breaking below this range is possible, Biogen has been in a steady upwards trend sing the beginning of 1995. The last long term trading range was an ascending triangle which began around the beginning of 2001 and broke up to new all time highs around the beginning of 2011. If the range we are currently in plays out in a similar way as the last one did, I would expect this range to break out to the upside within the next couple years, which would lead to a much larger return than 100%.

Risks:
The general market has been pulling back into the beginning of this year. If the market is setting a yearly low around the beginning of the year, I would expect this trade to play out nicely. However, if the market has already set a high for the year and further downside is ahead of us, I would expect Biogen to break below this range.