TopOptionAlert
Oct 22, 6:36 AM
$ABBV NOV20 295C · still actionable
Zone:
$282.81 to
$286.79
Invalidation: close under
$282.15
Objectives:
$291.40, then
$300
The math: up 2.3% to the first objective and 5.3% to the second, against 0.9% risk on the invalidation, better than 5 to 1 to the second
Dear friend, picture a strong house on a hill that took one small step back on Wednesday instead of tumbling down it. That is this swing setup. AbbVie closed at 284.80 dollars after holding above 282.15 dollars, still close to its 291.40 dollar high, with earnings coming on October 30. That closeness matters because buyers have kept price near the top while sellers have only managed a shallow dip, which tells you the path back toward that high is still open.
P.S. Watch 291.40 dollars first, because a close above that old high changes this from a bounce idea into a breakout idea.
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