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...
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 has been losing some value in their stock since January 2018.. Some trends we can see on the chart, are a couple fibonacci patterns, farthest on left is since the stock started, and closer on the right side is the latest dip on. The retrace has hit the long term 50% Fibonacci level and bounced off. Volume has been low, however.
We draw trend lines and...