Abbvie Might Be About To Crack All Time Highs

7 февр.

Hey everyone!

Today we're taking a look at Abbvie, ABBV a popular U.S. pharmaceutical stock.

In the chart above, we've combined a momentum view with a support & resistance framework to point out high points and low points of the recent range ABBV has been trading in.

In combination with the momentum indicator, it appears as though the chances of a break of all time highs is likely.

For reference, here's what the chart looks like without the momentum overlay:



For our part, we like the idea of buying this stock into highs, while trailing the daily 3/3 pivot points:



This should provide a solid amount of upside, while limiting risk significantly.

If you like ABBV from a fundamental standpoint, then trailing the larger weekly 10/10 pivots is also an option, down to $135:



That's 50 points of risk, but for a longer term hold it appears probable that a 1:1 kick scenario should pay out nicely.

Good luck out there!

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