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Advanced TA SearchArchive
- 5/3/2024 -
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AbbVie (ABBV) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the AbbVie (ABBV). During the week, the ABBV gained 4.17 points, or 2.61%, and closed at 163.79 on Friday, May 3, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was 6% above 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 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 142.09 and resistance is at 191.60. 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 157.65 on April 26, 2024. ABBV lost 25.24 points, or 13.80%, in 6 weeks. Price is near the Fibonacci 23.6% 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 April 12, 2024. 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 April 23, 2024 at 170.37 and reached 157.65 on April 26, 2024. ABBV lost 12.72 points, or 7.47%, in 3 days. The price is now at the 48.27% retracement level.
Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 25, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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