Technical Analysis Of ABBV

ABBV is still in a daily downtrend. The fact that the stock is below the 200 day moving average tells us that it is not an investing material yet.

The chart above shows the daily chart of ABBV. The yellow line is the 200 day moving average. Generally, when a stock is below its 200 MA, it is not a very good idea to invest in the stock.

The fact that the stock has a declining 200 MA also tells us that the stock can go lower.

ABBV broke below an uptrend line. In fact it gap down. There is quite a lot of resistance overhead. Therefore, one can expect resistance around the 88.00 area.

The chart above is the weekly chart of ABBV. There is some silver lining here as there are 2 bottoming tails in the weekly chart. Although the trend is still down, the existence of those bottoming tails might hint to a bounce up to the resistance area which I have shown in the daily chart.

Notice how the stock is below its weekly 20 MA and 50 MA. This tells us that the stock is not yet ripe for a bull move up. When the stock was above the weekly 20 MA and 50 MA, that was a great time to be in the stock. Thus, someone who wants to ride the trend up should be patient.

For a sustainable long term rise, the stock needs to break above the downtrend line. Otherwise the stock will just be moving sideways.

Last of all, the monthly chart of ABBV shows us that the stock is still in a long term uptrend. There is actually some very heavy support below. The 70 area is a strong support and thus one can consider buying the stock if it reaches there.

Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com

Charts with the investing.com logo are courtesy of Investing.com powered by Trading View

  • If you like this article, consider starting the Stock Market Course. It is free and jam packed with great information for newbies.
  • Want to have updates on the financial markets? Join my Telegram Channel. Dstockmarket Chat Group
  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

RSS

  1. Technical Analysis Of Dayang

    Mar 22, 19 12:01 PM

    So a friend asked me if Dayang will continue to go up. I guess many are wondering the same question as well. So let's take a look at what the charts are saying.

    Read More

  2. Technical Analysis Of KLCI And Malaysian Stocks March 2019

    Mar 22, 19 12:00 PM

    Analisa dan cerita menarik yang mengenai saham saham di Bursa Malaysia serta saham panas dan saham yang anda perlu pay attention.

    Read More

  3. Technical Analysis Of AAPL : Making Sense Of Apple's Stock Price

    Mar 22, 19 11:51 AM

    Apple is one of those stocks that we should look at almost every day. The reasons is because it is a component of the Dow Jones, the S&P 500 and the Nasdaq Composite. If Apple does well, it will be go…

    Read More

  4. Technical Analysis Of US Market And Stocks March 2019

    Mar 22, 19 11:40 AM

    Analysis of what is going on in US stock market as well as highlights of some stocks that are forming significant patterns.

    Read More

  5. What Are Stock Charts And Why You Need To Use Them

    Mar 22, 19 06:40 AM

    Learn the importance of stock charts and why you need to use them. Stock charts are footprints of market participants and they reveal quite a lot of information.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.