TopOptionAlert
Oct 22, 1:31 PM
$ABBV NOV20 300C · still actionable
Zone:
$285.40 to
$289.40
Invalidation: close under
$282.15
Objectives:
$291.40, then
$300
The math: up 1.4% to the first objective and 4.4% to the second, against 1.8% risk on the invalidation, better than 2 to 1 to the second.
Dear friend, think of a runner who was already close to the front and then got good news at breakfast. AbbVie closed at 284.80 dollars on Wednesday and was trading near 287.40 dollars before the bell today after its lutikizumab study met its main goal in Phase 3, and that matters because buyers now have a fresh reason to press price toward the 291.40 dollar high with earnings on October 30 still ahead. This is a swing setup built on strength holding above the 282.15 dollar low from Wednesday, where sellers tried and failed to push it lower.
P.S. Watch the 291.40 dollar high today, friend. A close above it would put the round 300 dollar line in plain sight.
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