ABBV has been consolidating in the triangle range since its high in Jul 2015.
RSI has found support at bull market support at 50-60 zone and is turning up.
A successful and strong break of (b)-(d) trendline and preferably high of Wave (b) will imply the completion of the consolidation and start of a new uptrend to new highs.
A break of Wave (a) low will invalidate this projection.
RSI has found support at bull market support at 50-60 zone and is turning up.
A successful and strong break of (b)-(d) trendline and preferably high of Wave (b) will imply the completion of the consolidation and start of a new uptrend to new highs.
A break of Wave (a) low will invalidate this projection.
Comentário:
A slight adjustment of the wave labelling depicts that ABBV has not fully broken out of its triangle.
There are 2 options:
(1) Minuette Wave e is completed and ready for upside break.
(2) Sub-minuette Wave e is not yet completed and will extend slightly further before resuming its projected upside breakout.
In summary, both options favour a upside break.
Key Support: A break of key support $55.06 (dotted Red) will open up options.
There are 2 options:
(1) Minuette Wave e is completed and ready for upside break.
(2) Sub-minuette Wave e is not yet completed and will extend slightly further before resuming its projected upside breakout.
In summary, both options favour a upside break.
Key Support: A break of key support $55.06 (dotted Red) will open up options.
Comentário:
ABBV has broken out of triangle consolidation.
Trade at your own time and own target.
Happy Profits!
Trade at your own time and own target.
Happy Profits!
Trade fechado: objetivo atingido
Watch for sustained upward momentum towards its all time high at $71.60.