AbbVie - 30d expiry - We look to Sell a break of 132.58 (stop at 137.03) 133 continues to hold back the bears. 132.75 has been pivotal. Posted a Double Bottom formation. A break of the recent low at 132.74 should result in a further move lower. Our profit targets will be 121.01 and 117.01 Resistance: 154 / 157 / 160 Support: 147 / 142 / 137 Disclaimer –...
Previously a rising wedge led to a bullish break out which touched the 1.618 Fibonacci circle level As of current a rising wedge has pushed price way up to 4.618 similarly to the earlier scenario And also similar to the first situation we will see a bearish move following this steep rise The rejection has already begun
On this monthly chart we see the 0-5 count. In my framework, the framework of the pitchfork, a 0-5 count means, that whenever 5 is reached, there is a high potential for a turn in the opposite direction, starting a new 0-5 count. On the monthly chart we also see that the CL was reached, and price seems to get rejected. So far a nice combination with the 0-5...