Biogen (BIIB) was a big gainer in the first half of this decade. From a low just above 42 in 2010, price rallied to 440 by 2015 before a sharp correction that year into 2016. Biogen (BIIB) Weekly Chart(click to enlarge)Bearish Correction:- The bearish correction took scraped away 50% of BIIB's cap. value. - There was an almost 61.8% retracement of the 2010-2015 rally before a V-shape reversal took place.Correction Complete:- I think the V-shape reversal in 2016 was a clue that the market was done with the bearish correction.- Still, it appears to remain in consolidation. Price stalled after cracking 300, and has been consolidating under 300 for the most part. - So, what we can say is that the market could be done with the bearish correction but is still in a sideways mode. - This means, we can focus on buying at the consolidation pattern support, which is roughly between 250 and 305. Consolidation Pattern:- As we zoom into the consolidation pattern seen on the daily chart below, we can see that price is stuck somewhere in the middle within another smaller range between roughly 267.15 and 275.15. - We also just saw price rejected from 275.15. This suggests that bears are still in control of the market in the short to medium-term.- Indeed, I think the 267-267.15 support area is vulnerable. A break below 267 opens up the support in the 250-255 area. - With the long-term trend possibly turning up, the 250-255 area is the support area we should monitor, but not the 267.15 mini-support area. Biogen (BIIB) Daily Chart(click to enlarge)