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ABBVIE INC

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ABBV trade ideas

Pull Back FishingBad news event )o: Price broke handle low of the large cup and handle pattern I drew a while back but never posted. The handle low was 110. "FDA requires updated warnings on JAK inhibitors citing increased risks of heart events." ABBV is involved in the marketing of a JAK inhibitor which is for arthritis. Good dividend payer with a yield at 4.31%. PE 9.5 EPS 12.64 Revenues appear to be rising quarterly. I suppose you just never know what news will be released in the pharma/biotech world! Price has fallen below the lower band with the SMA set on 80 exhibiting heavy selling pressure. The candle body is almost back inside the bands at this moment. ABBV had made a yearly high and was closing in on the long term high, then BOOM! Negative volume remains high showing institutional interest. Ugly red candle today. I own this one and just makes me scratch my head and think WOW! I will buy more though. No recommendation AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström’s macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection. It also provides CREON, a pancreatic enzyme therapy for exocrine pancreatic insufficiency; Synthroid used in the treatment of hypothyroidism; AndroGel for males diagnosed with symptomatic low testosterone; Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation; Lupron for the palliative treatment of advanced prostate cancer, endometriosis and central precocious puberty, and patients with anemia caused by uterine fibroids; and Botox therapeutic. In addition, the company offers ORILISSA, a nonpeptide small molecule gonadotropin-releasing hormone antagonist for women with moderate to severe endometriosis pain; Duopa and Duodopa, a levodopa-carbidopa intestinal gel to treat Parkinson’s disease; Lumigan/Ganfort, a bimatoprost ophthalmic solution for the reduction of elevated intraocular pressure (IOP) in patients with open angle glaucoma (OAG) or ocular hypertension; Ubrelvy to treat migraine with or without aura in adults; Alphagan/ Combigan, an alpha-adrenergic receptor agonist for the reduction of IOP in patients with OAG; and Restasis, a calcineurin inhibitor immunosuppressant to increase tear production. The company was incorporated in 2012 and is based in North Chicago, Illinois.
NYSE:ABBV
by lauralea
AbbVie Bearish Butterfly AbbVie has been on my radar now for quite a bit. It’s one of the few Pharm. companies Warren Buffet holds and even know I’m not strong in the realm of Pharm. I have seen their marketing on TV increase quite a bit. Since I am away from my computer at the moment and posting from the TradingView App. I do not know their financials right off hand. I will update this idea with that information later. However, here we have a bearish butterfly. The pattern panned out super nicely. Once the pattern completed it made a little bit of a consolidation and dropped yesterday heavily. I will be looking at buying some AbbVie once it hits the 618 of the pattern structure… if the movement looks weak (not likely based off the strong sell off with high volume) I think the 618 is likely. All the other numbers that made up the PRZ were over projections of the traditional ABCD pattern (2.0) and a 1.618 over extension. So the massive sell off with high volume is not surprising… be looking out later today for the financial report this does not mean I am saying AbbVie is going to the ground but it is a nice little correction that we long term investors can take advantage.
NYSE:ABBVShort
by ARegularGuy
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