ABBV ready to bounce? AbbVie
Short Term
We look to Buy at 138.60 (stop at 133.69)
Preferred trade is to buy on dips. There is scope for mild selling at the open but losses should be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Further upside is expected although we prefer to set longs at our bespoke support levels at 139.00, resulting in improved risk/reward.
Our profit targets will be 152.11 and 171.00
Resistance: 146.00 / 155.00 / 172.00
Support: 139.00 / 135.00 / 126.00
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