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|It was the negative week for the AbbVie (ABBV). During the week, the ABBV dropped -7.55 points, or -5.20%, and closed at 137.56 on Friday, May 26, 2023. ABBV was trading at average weekly trading volume. |
ABBV is a member of Health Care Sector. Health Care is the second most overbought 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 September 30, 2022 at 134.09 and reached 168.09 on January 6, 2023. ABBV gained -34.00 points, or -25.36%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (152.13) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ABBV may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See ABBV medium-term trend chart]
A medium-term downtrend had started on April 25, 2023 at 166.20 and reached 137.10 on May 26, 2023. ABBV lost 29.10 points, or 17.51%, in 4 weeks. Price is near the trend low.
Weekly Technical Indicators: [See ABBV weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 28, 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 downtrend had started on May 22, 2023 at 146.66 and reached 137.10 on May 26, 2023. ABBV lost 9.56 points, or 6.52%, in 4 days. Price is near the trend low.
Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since April 25, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.