4AB trade ideas
#ABBV long ideaHello dear Traders,
Here is my idea for #ABBV
Daily close above the yellow trigger line (previous month high) to enter trade.
We try to anticipate a 2-2 bullish reversal in the weekly chart - price found support at monthly pivot S2 Line
Targets marked in the chart (black lines)
Invalidation level marked with red line
Please feel free to ask any question in comments. I will try to answer all! Thank you
AbbVie Inc, ABBV NYSE 4HNYSE:ABBV
rsi in the oversold territory, which is starting to reverse to the bull side,
flipped bullish on a micro timescale, falling wedge, breaking out to the upside,
first target 140.75, then possible retest before 146.26.
we've been in this long term downtrend channel since April 2022, I expect to break out of it, once
we test 150.36 flip it as support then go for for 175.89 previous April top. fundamentals and news tend
to effect this stock a lot, so with positive momentum and good news. bullish times could be ahead.
Bear scenario is we test 125 before a full reset.
For the current quarter, AbbVie is expected to post earnings of $3.59 per share, indicating a change of +7.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.2% over the last 30 days.
The consensus earnings estimate of $13.90 for the current fiscal year indicates a year-over-year change of +9.5%. This estimate has changed +0.2% over the last 30 days.
all this is just my opinion , none of what I say should be taken as financial advice. DYOR
Regards Percy
ABBV ShortBounce back to supply Zone, Zone Confirmation
Trendline break
Earning: 7/29/2022 Est. 3.43
Short 152
Stop 160
Target 137, 122
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
ABBV- Bull Flag Pattern What call option is suggested?NYSE:ABBV
ABBV could breakout from a bull flag pattern on the daily chart
It is sitting on the support of a triple bottom, and an 8% upside
to the POC of the volume profile. as well as a 14% upside to
the high 3-4 months ago.
What would be a good option 5-6 months out to capture
the anticipated uptrend over that time?
ABBV ready to bounce? AbbVie
Short Term
We look to Buy at 138.60 (stop at 133.69)
Preferred trade is to buy on dips. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Further upside is expected although we prefer to set longs at our bespoke support levels at 139.00, resulting in improved risk/reward.
Our profit targets will be 152.11 and 171.00
Resistance: 146.00 / 155.00 / 172.00
Support: 139.00 / 135.00 / 126.00
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ABBV - UPDATE!I was away from TradingView for a few days, but I'm back now and continue to look at the market and look for ideas!
Updating ABBV idea:
Well, after the report, we teleported to shoulder level.
And now several scenarios are possible:
1) Shoulder bounce
2) Shoulder breakout
Which one am I more likely to go with?
A shoulder breakout.
But is it worth taking a position right now?
I don't think it's best to be in it from the day of the report.
I'm not in a position, just watching.
ABBV - What's going to happen?I think this stock should be added to your Watchlist.
Here we can debate what's coming:
1) Inverse Head and Shoulders
2) Bull Flag breakout.
If we break down the channel - I would likely try a short.
But don't rush to buy the flag - the best thing is to wait for a breakout confirmation!
And what do you expect?
$ABBV looking to come up on the right side of its base!Notes:
* Great earnings track record
* Very strong up trend on all time frames
* Pays out dividends
* Coming up on the right side of its base after ~4 months
* Has been in a tight range of ~3.8% for the past 3 weeks
Technicals:
Sector: Healthcare - Drug Manufacturers - General
Relative Strength vs. Sector: 1.91
Relative Strength vs. SP500: 1.54
U/D Ratio: 1.76
Base Depth: 26.75%
Distance from breakout buy point: -13.75%
Volume 8.02% above its 15 day avg.
Trade Idea:
* You can get in now as the price is very close to its 50 day line and has been using it as support for the past 3 weeks
* If you want to be safe you can wait for the breakout from this tight range with a break above 154.07
* This stock usually has local tops when the price closes around 10.96% above its 50 EMA
* Consider selling into strength if the price closes 10.76% to 11.16% (or higher) above its 50 EMA
* The last closing price is 0.11% away from its 50 EMA
Two strategy approach to ABBV, buy on throwback or a break outABBV has broken out of the falling wedge and with that, it confirmed the terminal end of the correction. With the recent cup and handle formation, we think that a bullish upside may come however, Friday's shooting star is a concern and as such, we will place the buy order at US$156.90 to confirm the breakout trade. Another strategy we have in mind is to wait until prices retrace to their nearest support at US$143.74 to anticipate a rebound.
ABBV - FUNCHARTS - Follow the TrendNote: Funcharts are interesting charts I have found that offer a potentially unique perspective on a stock. Sometimes I’ll throw something out there that you might find controversial or wrong headed. If that’s the case your 2 cents worth is most welcome.
Abbvie (ABBV) listed on the US market sets up nicely as a Trend Following stock. If you are in Tradingview insert the Supertrend Strategy and change the inputs to a 50 period ATR length with a factor of 2 times ATR trailing stop.
The strategy will buy when the daily closing price closes above the ATR trailing stop and go short when the price closes below the ATR trailing stop (shown in blue and red on the chart).
A look at the performance summary for long trades shows 44% winning trend with a win:loss ratio of 2.22 with a profit of over 109% through the period. Whilst buy and hold was the best strategy overall the drawdown was much lower for the trend following strategy and almost as much money was made. Stock like this that trend nicely, whilst allowing you to manage downside risk can be used with a certain amount of leverage as it follows the age old mantra of letting profits run and cutting losses early.
As with all trend following strategies, a low win rate but high win:loss ratio is to be expected.
ABBV 4.618 Rejection After Steep RisePreviously a rising wedge led to a bullish break out which touched the 1.618 Fibonacci circle level
As of current a rising wedge has pushed price way up to 4.618 similarly to the earlier scenario
And also similar to the first situation we will see a bearish move following this steep rise
The rejection has already begun