AbbVie. Waiting for an exit from uptrend

AbbVie Inc.
Idea: Long
Horizon: 1-2 months
Target: $145
Entry range: $143-145
Stop order: $141

Technical analysis
The share price has formed a short-term uptrend. If the local resistance level is broken through, there is a potential to move higher. Idea to increase the stock with the target of $145.

Fundamental factor
AbbVie is an American biopharmaceutical company founded in 2013 by a spinoff from Abbott Laboratories. One of the largest pharmaceutical companies in the world. Healthcare is a classic defensive sector in times of stock market turbulence. Given the high likelihood of continued serious tightening of monetary policy by the Fed, investors are shifting funds from interest-rate-dependent sectors to more stable ones. AbbVie's broadly diversified portfolio of drugs and products makes it one of the best candidates for this strategy.