ABBV has been consolidating in the triangle range since its high in Jul 2015. RSI has found support at bull market support at 50-60 zone and is turning up. A successful and strong break of (b)-(d) trendline and preferably high of Wave (b) will imply the completion of the consolidation and start of a new uptrend to new highs. A break of Wave (a) low will...
i think NO 1 BUY 61.83 T 64 S 60 NO 2 BUY 66 T 69 S 64 OPTION ABBV Mar 17 65 Call
Long levels noted in the chart. Has more upside potential than downside. Good RR.
looking for us to hold this 60 minute channel and trade to 64 next week.
ABBV has been down-trending within channel. My prediction is for stock to either remain in channel or move below. Drug manufacturers facing uncertainty, IMO due to probability of Clinton Presidency. Low risk option trade. I am Long Dec02 57.5p / Short Nov18 55.5p. Max loss is my .46 debit. Potential profit up to $1.5.
If the resistance Zone 63.5-65$ cpuld bombed away, the midterm target @ 71 $ can be aimed. Prices above 71$ can be seen as a longterm Buying-Signal Prices below 58.5$ will perhaps cause a fast dip of the former low @ 51-52$ Several positions are thinkable: -Anticyclical Shortterm Short: Entry now (~63,4$) SL=65,55$/TP 59$) Cyclical shortterm lon: Entry 64$ /SL...
Main Signals: 1-rising wedge with bottom line's breakout 2-RSI divergence Sell current low breakout 66.34 Stop loss 68.13 (+1 tic wedge high) Target 55.50 (Elliott's waves+stron price levels)
I've been watching the stock since they broke below support last year. It seems to have become a new level of resistance. Green lines represent potential areas of support.
ABBV broke both sideways consolidation range and declining trend line. Previous few trading sessions have been hittin the resistance but unable to break out. Friday's price broke out of resistance which bodes well for higher prices. Stop below Friday's low (or previous resistances) @56 should be a good R/R for a long position.
Looking for resistance around 200 period SMA, and a follow through of the existing descending wedge to the downside.