TopOptionsAIerts
Nov 8, 9:25 AM
$ABBV NOV20 300C · in play
Zone:
$289.27 to
$293.35
Invalidation: close under
$287.71
Objectives:
$298.74, then
$302.93
The math: up 2.6% to the first objective and 4.0% to the second, against 1.2% risk on the invalidation, about 2.1 to 1 to the first and about 3.2 to 1 to the second.
I like this swing because Friday flushed to
$281.07 and still closed at
$291.31, up 1.1% on the day, one session after tagging
$302.93. You are buying the bounce off the washout, not chasing the spike, and
$287.71 is the line where you are wrong so the risk is set before the move starts. The Q3 print backs it up, with Skyrizi up 22.7% and the full year guide raised, and
$298.74 is the first spot where sellers have to prove it again.
Watch:
$298.74, the October 30 high. A close over it opens the run toward
$302.93.
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