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Watch for Abbvie Inc to Potentially Pullback After Gaining 2.15% Yesterday

By Shiri Gupta

Abbvie Inc (NYSE:ABBV) traded in a range yesterday that spanned from a low of $118.73 to a high of $121.45. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $119.66 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Abbvie Inc share prices have moved between a 52-week high of $125.86 and a 52-week low of $55.06 and are now trading 119% above that low price at $120.76 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Abbvie Inc on November 8th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.10. Since that recommendation, shares of Abbvie Inc have risen 24.4%. We continue to monitor ABBV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders abbvie inc

Ticker(s): ABBV