"Trade what you see not what you think" Bullish Sentiment
Interest in this market
ABBV stock- Strong area of support that rallied up to the 125s which clearly shows institutional interest within the 94-98 zone.
1-3 risk to reward whilst still keeping an eye on 85s
Reason for opposing catalyst
Retail Investors had all the there chips in hoping for accelerated approval for the drug Rova-T (Drug) which they forked out just shy of $6 billion for Stemcentrx, (Defeating the purpose of the acquisition)
Risk management
Cut losses quickly
Wait till price action breaches more into the level to buy cheaper
ABBV stock- Strong area of support that rallied up to the 125s which clearly shows institutional interest within the 94-98 zone.
1-3 risk to reward whilst still keeping an eye on 85s
Reason for opposing catalyst
Retail Investors had all the there chips in hoping for accelerated approval for the drug Rova-T (Drug) which they forked out just shy of $6 billion for Stemcentrx, (Defeating the purpose of the acquisition)
Risk management
Cut losses quickly
Wait till price action breaches more into the level to buy cheaper
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.