ABBVIE - Technical Analysis
Updated
Dear Traders,
ABBVIE looks to be on the edge for a breakout, the MACD shows a Bullish Hidden Divergence which backs-up my LONG position.
Any thoughts ?
About Abbvie:
AbbVie, Inc. is a research-based biopharmaceutical company, which engages in the discovery, development, manufacture and sale of a line of proprietary pharmaceutical products. It is focused on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C and human immunodeficiency virus; neurological disorders, such as Parkinson's disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis; as well as other serious health conditions. The company was founded on January 1, 2013 and is headquartered in North Chicago, IL.
ABBVIE looks to be on the edge for a breakout, the MACD shows a Bullish Hidden Divergence which backs-up my LONG position.
Any thoughts ?
About Abbvie:
AbbVie, Inc. is a research-based biopharmaceutical company, which engages in the discovery, development, manufacture and sale of a line of proprietary pharmaceutical products. It is focused on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C and human immunodeficiency virus; neurological disorders, such as Parkinson's disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis; as well as other serious health conditions. The company was founded on January 1, 2013 and is headquartered in North Chicago, IL.
Note
ABBVIE is hitting against the 0.236 fib level, and if it succeeds in crossing upwards we might have another higher vol bar that could make this is nice run-up.The last 1D Chart candle represented a Bullish Harami candle pattern during the day, which is considered a bullish pattern, so if we breakout, this run-up might create a new higher high! 97.80$ is my prediction.
I'm long ABBVIE.
This run-up will create a new higher high!
97.80$ is my prediction.
Order cancelled
Different scenario ! the thing just changed mood within a day. we failed to break out and the bullish channel got hit downwards. I added a retracement fib, and the bears got stopped by the 0.50fib level so let's see if the bulls are in control or the bears.
Note
ABBVIE is in a triangle and it's trying to breakout. Let's see what is going to happen this week. If ABBVIE succeeds in breaking through the 0.5 fib level and secures it, then we will see a new breakout.
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