TopOptionAlert
Oct 27, 7:38 AM
$ABBV NOV20 295C · in play
Zone:
$284.73 to
$288.75
Invalidation: close under
$280
Objectives:
$291.40, then
$300
The math: up 1.6% to the first objective and 4.6% to the second, against 2.4% risk on the invalidation, about 2 to 1 to the second.
Dear friend, picture a patient who used to travel to a clinic for an infusion now starting treatment at home with a small injector, and that is the new Crohn disease option AbbVie won from the Food and Drug Administration on October 23, a wider door for its Skyrizi franchise just days before earnings. The stock sits just under its 52 week high at
$291.40, so a strong print on October 30 could carry it through that ceiling toward
$300. This is a swing, a ride into earnings with a clear line in the sand below, not a guess about one morning. What would you watch first, the print itself or the guidance that comes with it?
P.S. Goldman lifted its target to
$294 on October 22, still below the second objective.
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