Pull Back Fishing

NYSE:ABBV   AbbVie Inc
Bad 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.