The last time we looked at the price action of Biogen (BIIB) shares, we saw that it was approaching a range support. We also noted reasons we should NOT rely on this support.Biogen (BIIB) Daily Chart(click to enlarge)Cracking Support:- As we can see on the daily chart, price is cracking the range support.- We should also note that there is a negative reversal signal - RSI making a higher high, with a corresponding lower high in price. - The next key support will be around 222-223 and 205-206. Resistance:- At this point, with the market opening up the bearish outlook, the resistance should be lower than the common resistance around 300. - The middle of the range and previous support pivot around 270 should become the new resistance if the market is indeed turning bearish.- The daily RSI should also hold under 60.