$ABBV with a very very nice BO, backtest and candle that appears to have been bought up!
- Trading above all significant MAs
- 8 EMA just crossing the 21 EMA
- Tons of room in the bands
Like this set up alot for a longer term play
Many have been asking about me why I have stopped posting. I have been active in the home buying process and will be moving in to my new home in a month. I am 23 and this is my first home purchase so I am doing a lot of budgeting and excel work to plan for financial success. I apologize for the inactivity but here is a set up I put myself In by accident.
I tried...
Moving averages show us that current trend is bullish. Price is sitting at the support level after publication of the last earnings indicating that business is doing well. So it's a nice pick up I'd like to hold it until we break the previous high at 113.35. Want more investing ideas? PM me.
$ABBV was trading lower on friday after the the FDA pushed back the review period for the company's supplemental marketing application for upadacitinib in active psoriatic arthritis. Despite the big drop, it fell right to key support (right at the bottom of a range) making a good entry here in terms of RR, having a tight stop and aiming for the top of range (gap...
Quick trade for monday on $ABBV
Breakout formation
1) Swing Pivot
Last swing pivot breaked at 109$
2) RSI in the middle zone
Many space up and down too.
3) Squeeze indicator
On my squeeze indicator "prepare for storm" sign.
This in dicator I'm using for predicting any significant move in near future.
See examples in the past.
CONCLUSION
...
There might be a better way to do this but...
I wanted to be reminded to check a stock on a certain day, and couldn't figure out how!
Let me explain.
While doing research on VALUE stocks... Fundamentally Underpriced equities. i.e. Not TSLA! :D
ABBV caught my attention...
A quick review, showed that it has earnings coming up on Monday the 29th of March.
Further...
ABBV - A stock worth buying the next time I bought it.
Everything is in favor of this stock, from the charts, the business plan, the accounting sheet and the hedge funds that bought it.
Good luck with ABBV.
Keeping an eye on ABBV. Riding a massive rising wedge into all-time highs. From what I understand, rising wedges are a bearish formation. I am being even more cautious with the possibility of a potential rising wedge into a double top at all-time high psychological resistance.
ABBV has recently had a higher low and now remounted over the moving averages showing bullishness again. I suspect this will make a slightly higher high to the 112 area.
