Abbvie (ABBV) – BioTech Gains Strength – Nov 26th, 2019

S&P 500 Market Outlook: Bullish

Bullish Trade: ABBV $87.76 – Healthcare

The bullish DailyPlay we chose for Tuesday, Nov 26th is Abbvie (ABBV). ABBV is part of the Healthcare Sector (XLV). XLV has rallied 7.98% higher over the past month and its 1m and 6m trend turned bullish on Oct 15th and recently broke above its $98 resistance level.

Abbvie’s 1m and 6m trend turned neutral and bearish on Oct 18th and recently bounced higher off its $86 major support level. With a technical score of 8 (out of 10), ABBV is a strong stock that will likely continue higher.

As a stop loss, if ABBV was to trade below $86 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View ABBV Trade

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