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After Yesterday's Rally of 1.08% Shares Could Potentially Pullback

By Nick Russo

Abbvie Inc (NYSE:ABBV) traded in a range yesterday that spanned from a low of $92.62 to a high of $93.75. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $93.71 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Abbvie Inc have traded between a low of $55.06 and a high of $125.86 and are now at $93.34, which is 70% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Abbvie Inc on March 22nd, 2018 by issuing a Downtrend alert when the shares were trading at $100.01. Since that call, shares of Abbvie Inc have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders abbvie inc

Ticker(s): ABBV