ABBV gap fill tradeABBV is my fav next to LLY.
Scooped up some ABBV for a gap fill bounce above.
Target 1 - 175
Target 2 - 190
Let's revisit it once it crosses 175
2.423 USD
1.76 B USD
19.78 B USD
About AbbVie Inc.
Sector
CEO
Robert A. Michael
Headquarters
North Chicago
Website
Founded
2011
ISIN
ARBCOM4603M9
AbbVie, Inc. is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson's, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions. The company was founded on October 19, 2011 and is headquartered in North Chicago, IL.
Leaning Bullish on ABBV after Strong Reaction to EarningsABBV had a solid reaction to earnings. The tight consolidation over the last few days supports a bullish momentum holding up. Volume declining over the last few days (when price has been declining) typically means a healthy consolidation before a continued rise.
While the price may/may not continue
ABBV hit support and bouncingABBV hit support zone and bounced. Additionally, it hit 78.6 of Fibonacci in the weekly graph. Looking from the other side, it should retrace back up to 50% of Fib which sits at 185.64. Don't expect 185.64 to be precisely and always lock in your gains and manage risk by deploying stop loss.
For mor
ABBVIE broke below the 1D MA50. Confirmed sell opportunity.AbbVie Inc. (ABBV) has been trading within a Channel Up pattern since the November 09 2023 Low. Having made a Higher High on September 04 and been rejected at the top of the Channel Up, the price broke and closed aggressively below its 1D MA50 (blue trend-line) three days ago. That is a confirmed te
ABBV appeared the break pointABBV completed the flat pattern after the event of break out
From the pivot to 5%, you can add more position and establish the stop loss at the low price of the previous day break out
ABBV ShortABBV has climbed 21% since early July. The Sellers here might be trying to get a reversal.
Pivot 197.54
Any price below pivot is a short. Weekly close under this price is a good sign for continuation.
ABBV - I guess Not late for the Party !! ABBV - 135 level would’ve been ideal entry for long but it’s not too late to join the party.
It's just cleared 155 level.
Next, gap fill above upto 165.
After that, Target 1 : 175
ABBV ZonesAll rectangles are potential zones of influence for support/resistance pressure. Same applies to the 2 curves.
1st, I don't know if the red will prove to offer more resistance to the price as initially suspected, or failing and triggering a penetration.
2nd, even if it does prove to be a resistanc
AbbVie set ground for monthly uptrend continuation1. Uptrend on the monthly chart. Monthly higher low is set
2. Uptrend on the daily chart. Daily higher low is almost set
Bulls must still confirm higher low on the daily and then set new higher high, clearing 173.5.
Disclaimer
I don't give trading or investing advice, just sharing my thought
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Displays a symbol's price movements over previous years to identify recurring trends.
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