Welcome to our latest Elliott Wave analysis for AbbVie Inc. (ABBV). This analysis provides an in-depth look at ABBV's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. Insights from both the daily and 4-hour charts are covered to offer a comprehensive perspective on ABBV's market behavior.
AbbVie Inc. (ABBV) Elliott Wave Analysis Trading Lounge Daily Chart
AbbVie Inc. (ABBV) Daily Chart
ABBV Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3
Direction: Upside into wave 3
Details: Minor wave 3 is expected to unfold slowly and steadily to the upside, indicating a continuation of the higher trend.
ABBV Elliott Wave Technical Analysis – Daily Chart
We observe the steady and gradual development of Minor wave 3, which is unfolding to the upside. This suggests a continuation of the upward trend as the stock progresses through this impulsive wave.
ABBV Elliott Wave Analysis Trading Lounge 4H Chart
AbbVie Inc. (ABBV) 4H Chart
ABBV Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {iii} of 3
Direction: Upside in wave {iii}
Details: A series of threes and fours is anticipated to drive the price higher, with the next minimum target at 1.618 {iii} vs. {i} around $200.
ABBV Elliott Wave Technical Analysis – 4H Chart
The 4-hour chart shows a series of smaller three and four wave movements characteristic of a developing wave {iii}. The minimum next target is identified as 1.618 of wave {iii} vs. wave {i}, which is around $200. This target is anticipated based on the typical Fibonacci extension levels observed in wave {iii}.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: AAPL Elliott Wave Technical Analysis
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