Mar. 22 at 10:52 AM
$ABBV — Corrective Channel in Progress
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From
$225.41 high (Feb 24) to now — a clean ABC pullback inside a falling channel. Strong rally needed pause. Now it's offering the next entry.
Current Price:
$208.17 (-2.3% last 5 days)
RSI (14): 46.12 — neutral, room to wash out
ADX: 27.80 — trend weakening, correction mode confirmed
Volume: 8.42M Friday — 32% above avg, sellers still in control
Key Levels:
$200–205 ⚡ Critical support zone (200-day SMA + prior breakout level)
$215 First upside target if support holds
$195 If support fails, next magnet
The Setup:
Corrective channels are low-risk entry zones. With beta at 0.58 and dividend yield 3.9%, institutions will step in here. The long-term bullish structure remains intact toward
$240+.
The Play:
Bullish scenario: Bounce from
$200–205 →
$215+
Breakdown alert: Close below
$195 invalidates near-term bullish bias
