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Uptrend Broken SupportArchive
- 7/19/2024 -
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AbbVie (ABBV) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the AbbVie (ABBV). During the week, the ABBV gained 2.06 points, or 1.21%, and closed at 172.32 on Friday, July 19, 2024. Weekly volume was -12% below average.
 Long-term trend: [See ABBV long-term trend chart]
A long-term uptrend had started on June 28, 2023 at 130.96 and reached 182.89 on March 12, 2024. ABBV gained -51.93 points, or -39.65%, in 36 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 144.80 and resistance is at 203.84. 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 March 12, 2024 at 182.89 and reached 153.58 on May 30, 2024. ABBV lost 29.31 points, or 16.03%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (172.34). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ABBV weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 July 3, 2024 at 163.52 and reached 176.68 on July 18, 2024. ABBV gained -13.16 points, or -8.05%, in 15 days. The price is now at the 33.13% 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.
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