ABBV trade ideas
$ABBV AbbVie forms a breakout set up pattern.AbbVie, although overvalued, and with little revenue diversification still has the most profitable drug on the US pharmaceutical market, Humira, with a longstanding patent. ABBV still have plenty of momentum to beat it's median price target of $95.
$ABBV look at the volume and the price. The drop is normal. But I will not buy it now if I'm not in the market. NYSE:ABBV
AbbVie Inc. Pharmaceutical companyAbbVie is a pharmaceutical company that discovers, develops and markets both biopharmaceuticals and small molecule drugs
ABBV short-term LONG - at support and past pre-earnings rallyExpected to bounce off uptrend channel support. Recent RSI divergence and pre-earnings hype has largely corrected. Should be on the uptrend for the next 2 weeks.
Anticyclical opportunity for a Countertrade?With a SL near below yesterdays low an anticyclical countertrade has a very nice risk-Chance-Ratio...
Trying to catch the end of the consolidationAfter the bigger upswing from 65,7 up to 73,6 we see a healthy consolidation. Ideally this consolidation could end at the min correction fibo 38,2. Here is also based the EMA, so potential technically orientated buyers could stand there to catch the possible anticyclical swing.
Above 73,65 the “sky is the limit”
Buy ABBV here. Place stop at 71.28...expect at least 73.90 for aMarket pulled back into Market Profile Support. Buy Off the support at current levels. ABBV has been outperforming the SPY over the last 50 days by a fair margin...good long candidate
Bigger Breakout-Chance?
I s this a longterm Breakout-Chance?
Can Abbvie establish itself above71,5$, a longterm Breakout could be possible. A thinkable TP could be 90$! Cheers...
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!
