AbbVie Stock Forecast

AbbVie stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)

ABBV Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. 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 $174.02. On a fall, the stock will find some support from the short-term average at $166.16. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for AbbVie stock

AbbVie finds support from accumulated volume at $164.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.37 between high and low, or 1.42%. For the last week, the stock has had daily average volatility of 1.63%.

Our recommended stop-loss: $159.39 (-5.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (ABBV) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect AbbVie Inc to open at $167.88, and during the day (based on 14 day Average True Range), to move between $164.59 and $171.01, which gives a possible trading interval of +/-$3.21 (+/-1.91%) up or down from last closing price. If AbbVie Inc takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $167.90 (0.06%) than the support at $164.40 (2.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is AbbVie Inc stock A Buy?

AbbVie holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.599 Hold/Accumulate Upgraded

Predicted Opening Price for AbbVie Inc of Thursday, April 25, 2024

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