Dec. 19 at 3:13 PM
Actionable Trade Alert for
$ABBV:
Market Context:
$ABBV is currently trading at
$222.82, with an RSI of 42.01 indicating a neutral to slightly bearish momentum. The stock is below both the 30-day MA (227.15) and the 50-day MA (226.75), suggesting potential downward pressure. However, it remains above the 60-day low of
$211.69, providing a support level.
Directional Bias: The current price action indicates a potential rebound opportunity as it approaches the 60-day low. The ATR of 4.32 suggests moderate volatility, allowing for reasonable profit targets.
Trade Plan:
- Suggested Entry:
$222.50
- Stop Loss:
$210.00 (5.5% below entry)
- Take Profit Targets:
1.
$230.00 (3.3% gain)
2.
$235.00 (5.6% gain)
3.
$260.00 (16.8% gain)
This trade plan offers a risk-reward ratio that aligns with a potential 17% ROI on the third target. Monitor closely for price action around support levels.
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