ElliotWaveTrades

ABBV: Opportunity To Go Long

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NYSE:ABBV   AbbVie Inc.
4
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 invalidate this projection.
Комментарий:
Price has broke out strongly in a breakaway gap.
Watch for sustained upward momentum towards its all time high at $71.60.

Комментарий:
A slight adjustment of the wave labelling depicts that ABBV has not fully broken out of its triangle.

There are 2 options:

(1) Minuette Wave e is completed and ready for upside break.
(2) Sub-minuette Wave e is not yet completed and will extend slightly further before resuming its projected upside breakout.

In summary, both options favour a upside break.

Key Support: A break of key support $55.06 (dotted Red) will open up options.
Комментарий:
ABBV has broken out of triangle consolidation.

Trade at your own time and own target.

Happy Profits!
Сделка закрыта: достигнута тейк-профит цена
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