ABBV Elliott Wave technical analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3.
Direction: Upside into wave 3.
Details: We are looking for Minor wave 3 to slowly and steadily unfolding to the upside, as we are witnessing continuation higher.
ABBV Elliott Wave technical analysis – Daily chart
We are observing the steady and gradual development of Minor wave 3, which is unfolding to the upside. This suggests a continuation of the upward trend, as the stock progresses through this impulsive wave.
ABBV Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 3.
Direction: Upside in wave {iii}.
Details: Looking for a series of threes and fours to take us higher to the minimum next target that is 1.618 {iii} vs. {i} at 200$.
ABBV Elliott Wave technical analysis – Four-hour chart
The 4-hour chart shows a series of smaller three and four wave movements that are characteristic of a developing wave {iii}. The minimum next target is identified as 1.618 of wave {iii} vs. wave {i}, which is around $200. This target is anticipated based on the typical Fibonacci extension levels observed in wave {iii}.
Welcome to our latest Elliott Wave analysis for AbbVie Inc. (ABBV) as of July 31, 2024. This analysis provides an in-depth look at ABBV's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on ABBV's market behavior.
AbbVie Inc. (ABBV) Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
AUD/USD bounces just modestly after posting a fresh YTD low
The AUD/USD pair trades in the 0.6330 region, collapsing as demand for the US Dollar resumed in a risk-averse environment. Wall Street plunged ahead of the Federal Reserve’s monetary policy announcement.
DJIA ends Tuesday in the red, sheds roughly 270 points
The Dow Jones Industrial Average shed another 360 points at its lowest on Tuesday as losses accumulate in the key index and begin to gather speed. The S&P 500 and the Nasdaq also closed in the red.
Gold remains pressured around $2,640
The bright metal posted traded as low as $2,633 on Tuesday, as demand for the US Dollar outpaced that for Gold in the run to safety. Upcoming Fed’s decision weighs on market’s mood.
Crypto Today: Traders bet on Fed cut as Bitcoin, XRP, Solana pull in $130B
The cryptocurrency sector valuation grew by $12.5 billion as it advanced to a new all-time high of $3.73 trillion on Tuesday. While Bitcoin price hit a new all-time high of $108,135, Ethereum and Solana also scored considerable gains.
DJIA ends Tuesday in the red, sheds roughly 270 points
The Dow Jones Industrial Average shed another 360 points at its lowest on Tuesday as losses accumulate in the key index and begin to gather speed. The S&P 500 and the Nasdaq also closed in the red.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.