A Lot To Analyze
There is a lot to this chart and I decided to go super long on ABBV as I saw a buy in opportunity on the 45min chart. However let us look at the daily chart for long term growth.
Some indicators are in our favor and some are against. Let us focus on the indicators and not the trend lines.
MACD shows what may be our peak bear strength which means the bears will run out of gas and the bulls will start fo have control again bringing the stock price up.
RSI is a low 47.71 where ABBV usually runs in the 50s. This means investors can see ABBV as a good buying opportunity as it is underbought.
Guth 3x confirm initiated a strong and very accurate sell signal but if you look at the green line you can see the price is near bottom while the red line ( volume ) is still high meaning price should stay steady.
Earnings are less than a week away and I believe ABBV will do well being a pharmaceutical company in times like today. I do not believe earnings will have much of an impact on stock price.
Some indicators are in our favor and some are against. Let us focus on the indicators and not the trend lines.
MACD shows what may be our peak bear strength which means the bears will run out of gas and the bulls will start fo have control again bringing the stock price up.
RSI is a low 47.71 where ABBV usually runs in the 50s. This means investors can see ABBV as a good buying opportunity as it is underbought.
Guth 3x confirm initiated a strong and very accurate sell signal but if you look at the green line you can see the price is near bottom while the red line ( volume ) is still high meaning price should stay steady.
Earnings are less than a week away and I believe ABBV will do well being a pharmaceutical company in times like today. I do not believe earnings will have much of an impact on stock price.
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