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BioMarin Pharmaceutical Inc (BRMN) “On a long-term technical basis, the stock (BMRN) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 112.57 and 103.08. If the stock breaks down through support at 112.57 then it will probably continue lower to 103.08. The stock will meet resistance at 119.51 and 131.95. If the stock breaks up through resistance at 119.51 then it will probably continue higher to 131.95. The 200-day moving average is at 95.27. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (17.99), and turning up, which suggests a pause or possible rebound, especially if near support. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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