ABBV Possible BreakoutIf it can break through the top trend, could see a nice move up to 104. Let's wait and watch...
ABBV
$ABBV look at the volume and the price. The drop is normal. But I will not buy it now if I'm not in the market. NYSE:ABBV
ABBV BreakoutHuge breakout for ABBV closing the day above the double top formed from 2014/2015 highs between 70.70 and 71.60, both offering little resistance. RSI pushing into the high 80s shows good strong move up in my opinion, I won't be using RSI for short/sell/TP signal, rather buy more when it dips to over-sold territory on consolidation in the next few weeks... if that even happens. MACD indicator has room to continue upwards, watching MACD and EMA 20/50/200 crosses for a close trade signal. ABBV is still a strong buy for me. I went long after the previous longer term channel break near 70.10 last week, stop loss around 71.40 currently. GLHF!
ABBV earnings playABBV has been down-trending within channel. My prediction is for stock to either remain in channel or move below. Drug manufacturers facing uncertainty, IMO due to probability of Clinton Presidency. Low risk option trade. I am Long Dec02 57.5p / Short Nov18 55.5p. Max loss is my .46 debit. Potential profit up to $1.5.
Rising wedge has comen to Abbvie IncMain Signals:
1-rising wedge with bottom line's breakout
2-RSI divergence
Sell current low breakout 66.34
Stop loss 68.13 (+1 tic wedge high)
Target 55.50 (Elliott's waves+stron price levels)
Watching ABBVI've been watching the stock since they broke below support last year. It seems to have become a new level of resistance. Green lines represent potential areas of support.
ABBV Day Trade Gap N Go (Brad Reed Mar5,2015)ABBV expected to open at 56.73 for a Gap N Go. To learn to trade this strategy for free go to www.RealLifeTrading.com
