Trade Ideas Newsletter 09/11/2017

ABBV is showing significant strength right now

Based on the analysis above in ABBV, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that ABBV is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on ABBV with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward ABBV. Also, the price action in ABBV has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

Abbvie Inc. Common Stock (ABBV)