ABBV dominated by bulls lifting the market higher throughout the day
AbbVie (ABBV) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, ABBV finished the week -0.3% lower at 96.63 after gaining $1.02 (1.07%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 95.67, the stock confirms its breakout through the prior session's high having traded $1.19 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $1.92 (2.02%), that's slightly above last trading month's daily average range of $1.84. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Though AbbVie is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.