You can see that MAY is in a similar to BIIB in that it's also a pennant that formed in an uptrend. Again, the buy alarm is placed at yesterday's high and the first upside target is the February 2 swing high, followed by the January 27 swing high as the second target.
If the setup is triggered, the initial stop loss should be placed just above yesterday's high, but it should be tighter than that if possible seeing that the potential reward is less than the potential risk at the outset.
04.02.05 09:05 #