AbbVie Is Likely to Correct: Book Some Profits

We have not reviewed the charts and indicators on AbbVie Inc. (ABBV) since December, and we gave parameters for a rally: "$63.57 is needed now to turn this (Point and Figure) chart positive with a new column of X's. A rally to $68.46 would make a new high on the chart and this would be a significant breakout." Prices rallied to $63.57 fairly quickly in early January but the breakout at $68.46 did not materialize until June. In the past couple of weeks ABBV has really taken off on the upside.

What lies ahead? Is it time to nail down some profits or can we anticipate even further gains after a high level consolidation? Let's check and see....332 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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