iAnneTrader

ABBV too early to trade

NYSE:ABBV   ABBVIE INC
Many traders like to trade IPOs and new stocks as the volatility is considered to offer good opportunity.

But as a technical trader I find it difficult to trade a stock for which there is less than 5 years data. There is a limited history of how the stock reacts to events - which makes them difficult to analyse.

In the case of ABBV a pattern is now beginning to emerge. The trend is clearly up with deep and frequent pullbacks. For a longer-term trader positions would spend more time in negative equity than positive so we would by-pass this one .

However, this stock may well settle down into a more simple pattern to trade (i.e. a more linear trend) at a later date. For now, however, it is not possible for me to make a good, informed decision. Not every breakout is an opportunity.

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