Biogen (BIIB) and Intuitive Surgical (ISRG)

We received a blog question on Biogen (BIIB) and Intuitive Surgical (ISRG) - both of these Healthcare charts tilt positive.

Biogen (BIIB) has rallied out of an 11-month base on the push above 160-157, which reverses its role from support from resistance. This breakout projects into the 203 to 210 range with the declining 200-week moving average a potential overhang at 212.81. Monday's (11/24) close at 176.82 is in "no-man's land" between the breakout zone and upside target levels, so BIIB likely looks better on a tactical dip, especially one that forms a pattern such as a bullish wedge, flag, or pennant. Ideally, such a dip holds well above breakout zone support.

BIIB has also formed a 2025 bottom relative to the S&P 500. Dips that hold the 13-, 26-, and 40-week moving averages vs. the S&P 500, which are now rising, keep this bullish shift to leadership intact for BIIB.

Chart 1: Biogen (BIIB) (top) and relative to the S&P 500 (bottom)

Intuitive Surgical (ISRG) is positioning for a bullish breakout from an early 2025 into late 2025 base. The immediate trend is positive above tactical chart levels from 539 to 526, with additional support near the 40-, 26-, and 13-week moving averages from 506 down to 495. While above the first support, the near-term potential is for a breakout beyond 568-580 to confirm the base and suggest upside beyond the February and January peaks at 609-616 toward the pattern count at 715.

IRSG has surged relative to the S&P 500 from an early October low vs. the S&P 500.

Chart 2: Intuitive Surgical (ISRG) (top) and relative to the S&P 500 (bottom)