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SmarTrend Watching for Potential Rebound in Shares of Abbvie Inc After 1.37% Loss

By David Diaz

Abbvie Inc (NYSE:ABBV) traded in a range yesterday that spanned from a low of $64.04 to a high of $64.97. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $64.08 on volume of 3.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Abbvie Inc on January 14th, 2019 by issuing a Downtrend alert when the shares were trading at $85.73. Since that call, shares of Abbvie Inc have fallen 24.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Abbvie Inc share prices have been bracketed by a low of $63.31 and a high of $100.23 and are now at $64.08, 1% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 0.97% lower over the past week, respectively.

Keywords: rebounders abbvie inc

Ticker(s): ABBV