What I like here, is the bullish price action. You can see the buying pressure ends in the last 2 candles, where it seems to have found support at that 103.74 level. Of course this stock still has a bit of resistance to break through with the 50, 21, & 9 day EMA, I do like the pattern on the daily TF which is forming a double bottom, also another bullish...
The PEAD projected a slight bullish outlook for $ABBV after a positive under reaction following its earnings release placing the stock in drift A
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Resistance is being tested as shown by the Kurotoga Cloud. RSI is a low 37.01 indicating that the stock is under bought ahead of earnings.
MACD shows weakening bullish divergence on the 45min candlestick chart, but the 3x confirm shows room for growth.
This is another publication where technicals are thrown out the window due to earnings, but with ABBV being a...
There is a lot to this chart and I decided to go super long on ABBV as I saw a buy in opportunity on the 45min chart. However let us look at the daily chart for long term growth.
Some indicators are in our favor and some are against. Let us focus on the indicators and not the trend lines.
MACD shows what may be our peak bear strength which means the bears will...
Abbvie looks prime for run-up with healthcare conferences next week. Not a surprise with other healthcare stocks looking bullish like UNH . A well-defined cup and handle looking for a breakout. Abbvie can re-test all time highs
ABBV - This on still on high watch as it consolidates in it range (101-109) and is slowly uptrending towards it ATH. Current resistance near 107 with closest support of current uptrend on the daily chart. Looking to scale into a 110 C swing on this as price nears uptrend or breaks 107 resistance with momentum that will cover earnings (2/5).
Using the .618 from the all-time high to the recent lows, holding above 101 is a strong bull indicator for ABBV. Stop loss: below 100 the trade is wrong.
ABBV has retest previous support levels and remounted since. This looks bullish back to the previous high around 109-110 range. A break below the moving average will show lack of strength and i'll exit the trade.
