ABBV is showing a classic Symmetrical Triangle. Don't miss the move.
Consolidation. Can break either way.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
Sideways movement between parallel supports.
Gradual reversal from bearish to bullish.
Reversal pattern. Price likely to break downwards.
Technical analysis of AbbVie (ABBV) reveals a significant setup. Currently at $216.49, the asset is showing downward momentum (-2.14%). The primary technical feature is a Bullish Flag formation. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $230.47, targeting $270.19 with support near $215.37 (R:R 2.63).
What is your outlook on ABBV?