Abbvie Inc (NYSE:ABBV) traded in a range yesterday that spanned from a low of $100.00 to a high of $102.55. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $100.64 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, Abbvie Inc share prices have been bracketed by a low of $55.06 and a high of $102.55 and are now at $102.09, 85% above that low price. 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 5.5%. We continue to monitor ABBV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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