Expected to bounce off uptrend channel support. Recent RSI divergence and pre-earnings hype has largely corrected. Should be on the uptrend for the next 2 weeks.
After the bigger upswing from 65,7 up to 73,6 we see a healthy consolidation. Ideally this consolidation could end at the min correction fibo 38,2. Here is also based the EMA, so potential technically orientated buyers could stand there to catch the possible anticyclical swing.
Above 73,65 the “sky is the limit”
Market pulled back into Market Profile Support. Buy Off the support at current levels. ABBV has been outperforming the SPY over the last 50 days by a fair margin...good long candidate
I s this a longterm Breakout-Chance?
Can Abbvie establish itself above71,5$, a longterm Breakout could be possible. A thinkable TP could be 90$! Cheers...
Huge breakout for ABBV closing the day above the double top formed from 2014/2015 highs between 70.70 and 71.60, both offering little resistance. RSI pushing into the high 80s shows good strong move up in my opinion, I won't be using RSI for short/sell/TP signal, rather buy more when it dips to over-sold territory on consolidation in the next few weeks... if that...
