Last time we looked at Biogen (BIIB) we saw that it was heading to range support. We discussed anticipating support for BIIB around 250 with upside to 270.Biogen (BIIB) Daily Chart(click to enlarge)Support Just Under 250:- As we can see on the daily chart, price found support just under 250. - We can say that it cracked the range support. However, note the bullish divergence between price and the RSI, which indicated a slowdown in momentum as price cracked the range support, not a convincing breakout at all.- Since then, price has rebounded, and is accelerating this week.Pressure on Resistance:- I noted that we should anticipate resistance around 270, which is where the 100- and 200-day simple moving averages (SMAs) reside. 270 can also represent the central pivot of the range. If there were resistance here, we would have been more bearish on BIIB.- However, the push through 270 puts pressure on the range resistance. - The thing is resistance has been lower and lower, from as high as 307.50 to the most recent resistance pivot at 291.90. - If price can break above 292, then we should anticipate further upside at least to 307.50. I would not rely on resistance here.- As I noted in a previous BIIB update, it looks like it is ready to continue the uptrend before 2015. - The weekly chart below shows the uptrend that has stalled since 2015. However, after a V-shape reversal in mid-2016, it looks like BIIB has stabilized and is ready to continue that prevailing uptrend. - OR, at the very least, it looks like price has finished the 1st leg of correction, which should give way to at least some medium-term bullish outlook in 2017 before another bearish correction leg develops. - This makes 350 (previous consolidation support) the conservative target, IF BIIB can break the current range resistance.BIIB Weekly Chart(click to enlarge)