AbbVie Stock Forecast

AbbVie stock price up 1.85% on Friday
(Updated on May 03, 2024)

ABBV Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AbbVie stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $170.46. On a fall, the stock will find some support from the short-term average at $162.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for AbbVie stock

AbbVie finds support from accumulated volume at $162.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.51 (2.18%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ABBV) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect AbbVie Inc to open at $162.93, and during the day (based on 14 day Average True Range), to move between $160.21 and $167.37, which gives a possible trading interval of +/-$3.58 (+/-2.19%) up or down from last closing price. If AbbVie Inc takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $162.28 (0.92%) than the resistance at $167.90 (2.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AbbVie Inc stock A Buy?

AbbVie holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.932 Sell Candidate Unchanged

Predicted Opening Price for AbbVie Inc of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.