Dec. 15 at 5:34 AM
Actionable Trade Alert for
$ABBV:
Market Context:
$ABBV is currently trading at
$223.32, showing a bearish sentiment with an RSI of 30.79, indicating oversold conditions. The stock is below both the 30-day MA of 225.96 and the 50-day MA of 227.35, suggesting continued downward pressure. However, the price is near the 60-day low of 211.69, which could present a potential reversal opportunity.
Directional Bias: Given the oversold RSI and proximity to the 60-day low, there is a chance for a bullish reversal.
Trade Plan:
- Suggested Entry:
$223.32
- Stop Loss:
$210.00 (below the 60D low for risk management)
- Take Profit Targets:
- TP1:
$230.00 (3% gain)
- TP2:
$240.00 (7.5% gain)
- TP3:
$260.00 (16.5% gain)
With a potential ROI of over 17% on TP3, this trade offers a favorable risk-reward ratio. Monitor the price action closely for confirmation of the bullish reversal.
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