BUY to ABBVIE at market enteringHey traders, **DISCLAIMER** content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. ABBVIE is in an uptrend, it is possible that it will go up at the opening and go down again!
Please LIKE & FOLLOW, thank you!
4AB trade ideas
ABBV to Long, from 67 to 81ABBV to Long, from 67 to 81
Existing Condition:
1. 08/16/2019 Weekly demand zone confirmed
2. in 60 min, down trendline break by breakaway Gap (G1)
3. Re-test the Gap, Gap filled.
Entry below 67
Stop: 62.5
Target1: 81; Risk:reward=1:3
Target2: 88; Risk:reward=1:4
If G2 (runway Gap up) breaks the 2nd down trend line. That is a measuring (40-50%) of the trend.
That is another entry point.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought Jun 80 Call, limit 1.46.
If stop: lose about 1.00.
Sum of my ideas:
5 active, 4 winner, 1 loser, 0 pending for condition;
4 analysis only, 8 cancelled;
Technical indicators be damned, ABBV is going upAbbVie manufactures the anti-viral medication ritonavir , which is used to combat various viral infections, such as HIV and Hepatitis C. Ritonavir is also being used to treat the novel coronavirus.
www.natap.org
As the SARS II outbreak certainly worsens, ABBV might be one of the few stocks that survives the coming financial storm. A short term pullback is possible from the technical indicators but I don't think it will last long as virus cases increase exponentially.
ABBV Rubberband SnapbackABBV is now on its 8 consecutive green day. It has become overextended and overbought. Volume has decreased each consecutive day. Previously in chart, there is further resistance at $101. I plan on scaling into this until it cracks or will scrap trade if it continues to go over $101. This can snapback down to the 92 -90 level for 2:1 r/r.