AbbVie Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
AbbVie stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The AbbVie stock price fell by -0.566% on the last day (Wednesday, 1st May 2024) from $162.64 to $161.72. During the last trading day the stock fluctuated 1.51% from a day low at $161.26 to a day high of $163.69. The price has risen in 6 of the last 10 days but is still down by -1.54% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 4 million shares were bought and sold for approximately $635.56 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $159.01 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.52% during the next 3 months and, with a 90% probability hold a price between $148.65 and $165.88 at the end of this 3-month period.
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ABBV Signals & Forecast
There are mixed signals in the stock today. The AbbVie stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $164.30 and $171.50. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.32%. 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).
Support, Risk & Stop-loss for AbbVie stock
AbbVie finds support from accumulated volume at $161.67 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 $2.43 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $152.38 (-5.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ABBV) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect AbbVie Inc to open at $162.23, and during the day (based on 14 day Average True Range), to move between $158.17 and $165.27, which gives a possible trading interval of +/-$3.55 (+/-2.20%) up or down from last closing price. If AbbVie Inc takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $161.67 (0.03%) than the resistance at $167.90 (3.82%), 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 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: -0.725 Hold/Accumulate Upgraded
Predicted Opening Price for AbbVie Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $162.23 ( 0.312%) | $161.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABBV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 164.65 | 1.81 % | |
| R2 | 163.73 | 1.24 % | ||
| R1 | 163.15 | 0.89 % | ||
| Current price: | 161.72 | |||
| Support | S1 | 161.30 | -0.261 % | |
| S2 | 160.72 | -0.616 % | ||
| S3 | 159.80 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 176.27 | 9.00 % | |
| R2 | 173.29 | 7.15 % | ||
| R1 | 167.90 | 3.82 % | ||
| Current price | 161.72 | |||
| Support | S1 | 161.67 | -0.0309% | |
| S2 | 161.52 | -0.124% | ||
| S3 | 159.62 | -1.30% |
ABBV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | May 15, 2024 | $1.55 | 0.96% |
| 2 | Jan 15, 2024 | Jan 15, 2024 | Feb 15, 2024 | $1.55 | 0.88% |
| 3 | Oct 27, 2023 | Jan 12, 2024 | Feb 15, 2024 | $1.55 | 0.88% |
| 4 | Sep 08, 2023 | Oct 12, 2023 | Nov 15, 2023 | $1.48 | 1.08% |
| 5 | Jun 22, 2023 | Jul 14, 2023 | Aug 15, 2023 | $1.48 | 0.97% |
FAQ
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