Abbvie Inc. (ABBV) Elliott Wave technical analysis [Video]

ABBV Elliott Wave technical analysis

• Function: Trend

• Mode: Impulsive

• Structure: Motive

• Position: Wave {iii} of 5

• Direction: Upside in Wave {iii}

• Details:

  • Looking for further upside to complete Minute Wave {iii}.

  • Potential upside target around $230, marking the completion of MG1.

  • A pullback in Wave {iv} is expected before resuming the overall trend.

ABBV Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave (v) of {iii}.

• Direction: Upside in Wave (v).

• Details:

  • Observing a three-wave corrective move in Minuette Wave (iv).

  • There is a possibility that Wave (iv) has completed, and the stock is now resuming its upward move in Wave (v).

  • Further upside in Wave (v) will confirm the continuation of Wave {iii} towards higher targets.

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]