TopOptionAlert
Oct 25, 11:58 PM
$ABBV NOV20 295C · still actionable
Zone:
$283.64 to
$287.64
Invalidation: close under
$280
Objectives:
$291.40, then
$300
The math: up 2.0% to the first objective and 5.0% to the second, against 2.0% risk on the invalidation, better than 2.5 to 1 to the second.
Dear friend, picture a steady swing setup on a name that has quietly climbed all year and is now sitting just under its highest price in a year. AbbVie closed Friday at 285 dollars and 64 cents, up a little on the day, after holding the 282 dollar area twice in the past week. What that means is simple. Buyers keep showing up near that floor, and with results due October 30, there is a clear date for the next push toward 291 dollars and then 300 dollars if that floor keeps holding.
P.S. Watch 282 dollars and 30 cents on any dip. That was the low on Friday, and holding it keeps this climb intact.
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