ABBV - Test the trendline
As we can see from the chart, the price now is testing the bearish trendline which had stood for months. Besides, ABBV crossed the 70, the old resistance which can only be seen if switching to Weekly chart. Next, the price now is being supported by a bullish trendline.
There are 2 strategies:
1. Wait for the price to test the up-ward trendline again, and start a long position.
2. Wait for the price to break the bearish trendline, and go long
The target price for both is 76 - to close the gap and meet a strong resistance these months in 2019.
There are 2 strategies:
1. Wait for the price to test the up-ward trendline again, and start a long position.
2. Wait for the price to break the bearish trendline, and go long
The target price for both is 76 - to close the gap and meet a strong resistance these months in 2019.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.