4ABBV trade ideas
Trade for the Week ending on 5/175/17 week trade strategy for ABBV, short position 2 potential closes varying risk
ABBV : Short term and Medium Term view.As per my wave analysis, it looks like it will go down to 65-70 levels. But once this down move is completed, we can expect a good UP move to around 110-120 levels.
$ABBV ABBVIE INC poised to move higherABBVIE INV has had a considerable sell off but has finally stemmed the tide of negative price action. A nice double bottom reversal has created some support for a move higher we need to see a break of $84 then rally to the falling 200ma at $88 where we can reassess.
ABBV - breakout or going nowhere?NYSE:ABBV has fallen from grace after a monster performance in 2017. 2018 and the most recent earnings report disappointed but the dividend and technical position have me leaning bullish.
Let's see!
ABBVIE weekly reversal off supportAfter moving 40% down from ATH's has abbv found support on this slope support & 61.8% retrace?
4h levels show the channel structure in place. First test to upside comes at $82.5 which has been key pivot level.
ABBV Rally?Hopefully, my 5 years of technical analysis trading will help me be correct on this. If I'm lucky it will run to the gap and I'll sell my weekly calls at the red line for a massive profit.
ABBV - will it break down?Abbv healthcare sector, is on a major upward trend
the secondary trend is downward
we see a double bottom at 77.5 which is a support area for now..
it has stopped at moving average 200
following it for a short play after an approval candle.
will it break the resistance area with the help of the market?
earnings - 29 april
this is not a recommendation,
as always, I'm open for a feedback..
ABBV consolidating with gap to fill higherWatching for ABBV to break this wedge and go higher to fill the gap from earnings.
ABBV Reversal1. Bullish pennant developed from earnings gap indicating a potential rebound back previous prices
-Volume confirmation
-Gap provides mast
2. Potential double bottom is in formation also indicating a reversal
-Volume confirmation
-20% retrace between bottoms
-<2% between peaks
Abbvie close to a bottom!I like ABBVIE but its little overpriced right now, considering how much Debt they accumulated on acquisitions that didn't realize or the drugs never worked. But they are coming out with new cancer products, that could replace the income which will be lost from HUMIRA in the next 2 years. I would go long at lower prices. For now shorting ABBVIE untill it hits $68...
ABBV shortABBV looks like a great setup
1W OB rejection
Consecutive LH's and LL's
About to fall off of the MA cloud
Targeting the green block
the island reversal seems to be a major down signal the island reversal seems to be a major down signal
the Down channel starting at the gp up
matching with the gap down
continues to provide the channel down peak and the centre of the channel has clustering and smaller gaps in it
short at the top of this channel
ABBV Be careful Potential Complete Zone of Cypher/SharkABBV Be careful Potential Complete Zone of Cypher/Shark
Market : ABBV
Time Frame: 1hr
Pattern Template : Cypher / Shark Pattern
Predicted Direction: Short
ABBV updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
ABBVSo... Good news- 13.12.2018.
Look like double bottom, but, tops are down,down and more down..
We will se..
