ABBV Elliott Wave technical analysis
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Function: Trend
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Mode: Impulsive
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Structure: Motive
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Position: Wave {iii} of 5
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Direction: Upside in Wave {iii}
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Details:
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Looking for further upside to complete Minute Wave {iii}.
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Potential upside target around $230, marking the completion of MG1.
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A pullback in Wave {iv} is expected before resuming the overall trend.
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ABBV Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave (v) of {iii}.
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Direction: Upside in Wave (v).
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Details:
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Observing a three-wave corrective move in Minuette Wave (iv).
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There is a possibility that Wave (iv) has completed, and the stock is now resuming its upward move in Wave (v).
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Further upside in Wave (v) will confirm the continuation of Wave {iii} towards higher targets.
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Conclusion
This analysis provides a detailed Elliott Wave outlook for multiple equities, highlighting potential trend continuations and corrections. AbbVie (ABBV) is expected to continue its upward momentum towards $230, while other stocks such as CAT, CRM, CVX, and PANW are under corrective phases, awaiting confirmation of trend reversals or continuations.
Abbvie Inc. (ABBV) Elliott Wave technical analysis [Video]
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