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- 11/24/2023 -
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AbbVie (ABBV) Technical Analysis
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|It was a first positive week for the AbbVie (ABBV). During the week, the ABBV climbed 0.37 points, or 0.27%, and closed at 138.67 on Friday, November 24, 2023. Weekly volume was -32% below average. |
Long-term trend: [See ABBV long-term trend chart]
A long-term downtrend had started on April 8, 2022 at 175.91 and reached 130.96 on June 28, 2023. ABBV lost 44.95 points, or 25.55%, in 63 weeks. The price is now at the 17.15% retracement level.
Medium-term trend: [See ABBV medium-term trend chart]
A medium-term downtrend had started on September 20, 2023 at 154.88 and reached 135.85 on November 9, 2023. ABBV lost 19.03 points, or 12.29%, in 7 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 132.79 and resistance is at 139.95. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See ABBV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 27, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See ABBV short-term trend chart]
A short-term uptrend had started on November 9, 2023 at 135.85 and reached 140.10 on November 14, 2023. ABBV gained -4.25 points, or -3.13%, in 5 days. The price is now at the 33.65% retracement level.
Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.