ABBV34 trade ideas
ABBV an Entry Point into the Wild World of BiotechBiotechnology and pharmaceutical companies have been quickly cycling through overbought and oversold. The problem has been so problematic that Sorrento Therapeutics had to specifically claim they were not a “pump and dump” scheme. Any whisper of a "cure" for Covid-19 has investors rushing to the entrance and quickly fleeing after results are what they had expected (an image of people rushing toward the exit and getting stuck in door comes to my mind). People who know the biotech sector have been cautiously watching the spectacle and trying to avoid getting trampled in a stampede. To be clear: your average investor is getting burned in the vaccine-hunt game.
AbbVie "ABBV" is (and has been) a reliable pharmaceutical and biotechnology company for some time. The company is known for its generous dividend – previously at a yield of 5.20%. The company has a robust balance sheet with a Quick Ratio of 3.03 and a Current Ratio of 3.14. In the world of biotech, research and development is everything. ABBV pipeline is stacked with potential drug candidates many of which are in Phase 3 of development according to AbbVie’s investor relations brochure.
From a technical analysis standpoint, the moving averages appear to be moving toward a positive crossover – EMA10 = 91.00, EMA20 = 90.88 EMA25 = 90.87. The stock does not look overbought or oversold according to the Stoch RSI and Money Flow Indicator. However, the MACD indicator shows that there may be a further swing downward before moving into positive territory. Finally, the linear regression model is one of the few biotechnology companies that is not inverse or appears caught in a sideway pattern.
LONG ABBV purchased today (06-02-2020) @ 90.86.
Looks like a move up in ABBV coming over the next few daysNYSE:ABBV
should see a few day run if the signal holds by the end of the day. Needs to close above open price and remain positive for the day. Let's see! The signal is pretty strong here. this is a swing trade idea
BUY to ABBVIE at market enteringHey traders, **DISCLAIMER** content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. ABBVIE is in an uptrend, it is possible that it will go up at the opening and go down again!
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abbvREAL QUICK I see people saying this one is going up BUT this is rite before the weekend, what I see is _ Chances are it will go up and maybe LIKELY back down after hours, just my thoughts, hope it saves someone
Abbv is in an ascending triangleTriangles are only in wave B or wave 4. This seems to be a B wave triangle that is completing a impulsive 5 wave structure to complete corrective wave C.
