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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 1/3/2025 -
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AbbVie (ABBV) Technical Analysis

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Summary:
Weekly :Oversold sectorPrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaMACD bearish divergencePrice has crossed above the 50 Day Moving Average
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It was a third consecutive positive week for the AbbVie (ABBV). During the week, the ABBV gained 3.20 points, or 1.80%, and closed at 181.20 on Friday, January 3, 2025. It was the best weekly gain since November 29, 2024. Weekly volume was -29% below average.

ABBV is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ABBV long-term trend chart]
A long-term uptrend had started on June 28, 2023 at 130.96 and reached 207.30 on October 31, 2024. ABBV gained -76.34 points, or -58.29%, in 70 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 167.41 and resistance is at 216.86. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ABBV medium-term trend chart]
A medium-term downtrend had started on October 31, 2024 at 207.30 and reached 163.80 on November 19, 2024. ABBV lost 43.50 points, or 20.98%, in 2 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 December 30, 2024 at 175.50 and reached 181.60 on January 3, 2025. ABBV gained -6.10 points, or -3.48%, in 4 days. The price is now at the 6.56% retracement level.

Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since December 16, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.81
Williams' Percentage Range (W%R) 16.70
Overbought
Lane's Stochastic (%D-Slow) 78.92
Greed/Fear Indicator (GFI) 75.69
Moving Average Converg./Diverg. (MACD) -0.98 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.84
Williams' Percentage Range (W%R) 63.40
Lane's Stochastic (%D-Slow) 30.83
Greed/Fear Indicator (GFI) 37.66
Moving Average Converg./Diverg. (MACD) 2.36
Trading Signals
Description Value Chart
Yearly Trendline Resistance 216.86
Upper Bollinger Band 182.94
Price 181.20
50 Day Moving Average 180.87
Daily Stochastic Crossing 180.17
20 Day Moving Average 176.18
Weekly Stochastic Crossing 175.87
Parabolic System 174.35
Lower Bollinger Band 172.21
Yearly Trendline Support 167.41
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Pharmaceuticals 39
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 175.50
Low Date 12/30/2024
High 181.60
High Date 01/03/2025
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 175.50
Low Date 12/30/2024
High 181.60
High Date 01/03/2025
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 170.20
Low Date 12/17/2024
High 181.60
High Date 01/03/2025
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 207.30
High Date 10/31/2024
Low 163.80
Low Date 11/19/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 216.86
Support 167.41
Low 130.96
Low Date 06/28/2023
High 207.30
High Date 10/31/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.