The Greedy Trader Weekly Analysis
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AbbVie
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Summary:
Weekly :Overbought sectorTrend resistance at 94.24
Daily :Broken trend support lineThe price has risen above the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock pricePrice is close to the 50 Day Moving Average
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It was the negative week for the AbbVie (ABBV). During the week, the ABBV gave back -0.20 points, or -0.21%, and closed at 94.38 on Friday, October 05, 2018. Weekly volume was -28% below average.

ABBV is a member of Healthcare Sector. Healthcare is the 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 downtrend had started on January 26, 2018 at 125.86 and reached 86.76 on July 20, 2018. ABBV lost 39.10 points, or 31.07%, in 25 weeks. The price is now at the 19.49% retracement level.

Medium-term trend: [See ABBV medium-term trend chart]
A medium-term downtrend had started on August 20, 2018 at 100.23 and reached 90.40 on September 19, 2018. ABBV lost 9.83 points, or 9.81%, in 4 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (94.24). 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 technical indicators are neutral.

The weekly MACD line is below its signal line since March 16, 2018. 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 September 19, 2018 at 90.40 and reached 96.60 on October 3, 2018. ABBV gained -6.20 points, or -6.86%, in 14 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (95.33) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

Daily Technical Indicators: [See ABBV daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since September 26, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.47% on Friday. It is 55.17% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Price is close to the 50 Day Moving Average. 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) 46.59
Williams' Percentage Range (W%R) 40.30
Lane's Stochastic (%D-Slow) 65.50
Greed/Fear Indicator (GFI) 57.25
Moving Average Converg./Diverg. (MACD) -0.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.42
Williams' Percentage Range (W%R) 64.20
Lane's Stochastic (%D-Slow) 50.32
Greed/Fear Indicator (GFI) 45.05
Moving Average Converg./Diverg. (MACD) -0.90
Trading Signals
Description Value Chart
Upper Bollinger Band 96.98
Weekly Trendline Resistance 96.73
Weekly Trendline Support 95.33
Weekly Stochastic Crossing 95.13
Daily Stochastic Crossing 95.12
50 Day Moving Average 95.07
Price 94.38
Monthly Trendline Resistance 94.24
20 Day Moving Average 93.99
Lower Bollinger Band 91.84
Parabolic System 91.13
Monthly Trendline Support 87.56
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 152
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 96.60
High Date 10/03/2018
Low 92.91
Low Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 96.73
Support 95.33
Low 90.40
Low Date 09/19/2018
High 96.60
High Date 10/03/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 94.24
Support 87.56
High 100.23
High Date 08/20/2018
Low 90.40
Low Date 09/19/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 125.86
High Date 01/26/2018
Low 86.76
Low Date 07/20/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 45.45
Low Date 10/22/2015
High 125.86
High Date 01/26/2018
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.

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