Dec. 11 at 10:27 PM
Actionable Trade Alert for
$ABBV:
Market Context:
$ABBV is currently trading at
$224.1, with an RSI of 43.27 indicating a neutral to slightly bearish momentum. The stock is below its 30-day moving average (MA30) of 226.13 and 50-day moving average (MA50) of 227.62, suggesting potential resistance levels. The recent high of
$244.81 and low of
$211.69 over the last 60 days provide a clear range for price action.
Directional Bias: Given the current RSI and proximity to key moving averages, we anticipate a potential rebound towards the upper range of
$244.81.
Trade Plan:
- Suggested Entry:
$224.1
- Stop Loss:
$211.0 (approximately 5.8% below entry)
- Take Profit Targets:
1.
$230.0 (2.5% gain)
2.
$235.0 (4.9% gain)
3.
$262.0 (17% gain)
With a focus on the upper range and potential recovery, this plan offers a favorable risk-reward ratio.
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