$ABBV looking to come up on the right side of its base!
Notes:
* Great earnings track record
* Very strong up trend on all time frames
* Pays out dividends
* Coming up on the right side of its base after ~4 months
* Has been in a tight range of ~3.8% for the past 3 weeks
Technicals:
Sector: Healthcare - Drug Manufacturers - General
Relative Strength vs. Sector: 1.91
Relative Strength vs. SP500: 1.54
U/D Ratio: 1.76
Base Depth: 26.75%
Distance from breakout buy point: -13.75%
Volume 8.02% above its 15 day avg.
Trade Idea:
* You can get in now as the price is very close to its 50 day line and has been using it as support for the past 3 weeks
* If you want to be safe you can wait for the breakout from this tight range with a break above 154.07
* This stock usually has local tops when the price closes around 10.96% above its 50 EMA
* Consider selling into strength if the price closes 10.76% to 11.16% (or higher) above its 50 EMA
* The last closing price is 0.11% away from its 50 EMA
* Great earnings track record
* Very strong up trend on all time frames
* Pays out dividends
* Coming up on the right side of its base after ~4 months
* Has been in a tight range of ~3.8% for the past 3 weeks
Technicals:
Sector: Healthcare - Drug Manufacturers - General
Relative Strength vs. Sector: 1.91
Relative Strength vs. SP500: 1.54
U/D Ratio: 1.76
Base Depth: 26.75%
Distance from breakout buy point: -13.75%
Volume 8.02% above its 15 day avg.
Trade Idea:
* You can get in now as the price is very close to its 50 day line and has been using it as support for the past 3 weeks
* If you want to be safe you can wait for the breakout from this tight range with a break above 154.07
* This stock usually has local tops when the price closes around 10.96% above its 50 EMA
* Consider selling into strength if the price closes 10.76% to 11.16% (or higher) above its 50 EMA
* The last closing price is 0.11% away from its 50 EMA
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