The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/26/2024 -
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AbbVie (ABBV) Technical Analysis

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Summary:
Weekly :Oversold sector
Daily :MACD bullish divergence
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It was the negative week for the AbbVie (ABBV). During the week, the ABBV dropped -6.79 points, or -4.08%, and closed at 159.62 on Friday, April 26, 2024. Weekly volume was 15% 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 141.83 and resistance is at 190.42. 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. The price is now at the 7.81% retracement 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 15.49% retracement level.

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

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.86
Williams' Percentage Range (W%R) 61.10
Lane's Stochastic (%D-Slow) 65.44
Greed/Fear Indicator (GFI) 45.08
Moving Average Converg./Diverg. (MACD) -2.73 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.88
Williams' Percentage Range (W%R) 39.30
Lane's Stochastic (%D-Slow) 41.49
Greed/Fear Indicator (GFI) 49.93
Moving Average Converg./Diverg. (MACD) 6.76
Trading Signals
Description Value Chart
Yearly Trendline Resistance 190.42
Upper Bollinger Band 179.62
50 Day Moving Average 174.49
Parabolic System 170.54
20 Day Moving Average 168.36
Daily Stochastic Crossing 165.54
Weekly Stochastic Crossing 165.42
Price 159.62
Lower Bollinger Band 157.26
Yearly Trendline Support 141.83
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Pharmaceuticals 45
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 170.37
High Date 04/23/2024
Low 157.65
Low Date 04/26/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 170.37
High Date 04/23/2024
Low 157.65
Low Date 04/26/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 182.89
High Date 03/12/2024
Low 157.65
Low Date 04/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 135.85
Low Date 11/09/2023
High 182.89
High Date 03/12/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 190.42
Support 141.83
Low 130.96
Low Date 06/28/2023
High 182.89
High Date 03/12/2024
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.