Jun. 28 at 4:34 PM
📊
$ABBV — WEDGE BREAK ON A VOLUME EXPLOSION | 1W
Weekly close
$253.35, +𝟭𝟳% on the week. This is a structural break, not a drift.
💥 THE VOLUME TELL
𝟴𝟳.𝟱𝗠 shares — the largest volume bar on the entire chart, by a wide margin. A breakout this size on volume this heavy is the confirmation you want. Wedge breaks that fail usually fail on weak volume. This one didn't.
🔓 THE BREAK
Price broke clean out of the descending consolidation wedge (converging trendlines off the Oct-2025
$239 high). The candle cleared:
▪ the wedge upper rail
▪ the CHoCH
▪ the Weak High (~
$253)
▪ into PREMIUM (above the 1.236 fib /
$258 zone)
🪞 Structure flipped. Equilibrium reclaimed, premium entered, momentum confirming.
📐 THE MEASURED MOVE
Wedge height ≈
$50 (range low ~
$188 → high ~
$239). Projected from the ~
$253 breakout → ~$𝟯𝟬𝟯.
The kicker: that lines up almost exactly with the 𝟭.𝟳𝟴𝟲 fib (
$303.11) AND your
$302.98 horizontal. Measured move + fib extension agree = the target isn't arbitrary. That's the confluence that matters.
📈 THE PATH
▪ Next resistance: 1.236
$258 → 1.382
$270 → 1.5
$280 → 1.618
$289 → 𝗧𝗔𝗥𝗚𝗘𝗧 1.786
$303
▪ RSI 67, rising, crossed its signal — momentum behind it, NOT yet overbought (sub-70 leaves room)
🪞 Clean ladder of fib resistance into
$303. Each level is a checkpoint, not a wall — but watch
$258 (premium entry) for the first pause.
🛡 INVALIDATION
A weekly close back INSIDE the wedge / below the breakout (~
$240, the prior range high) negates it. That's the line — below it, the break failed and it's a fakeout retest.
🪞 THE READ
This is a textbook setup: multi-month wedge, explosive volume break, measured move and fib extension agreeing on ~
$303, RSI confirming with room left. The volume is what separates this from a fade — 87M doesn't show up on noise. I want to see it HOLD above the breakout (~
$240) on any pullback; a retest that holds is the highest-quality entry. Don't chase the +17% candle extended — let it confirm the breakout as support, then ride the ladder to
$303.
⚔ Volume confirmed the break. Measured move =
$303. Let it
