Abbvie Inc (NYSE:ABBV) traded in a range yesterday that spanned from a low of $89.87 to a high of $91.67. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $90.33 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Abbvie Inc has traded in a range of $77.50 to $125.86 and is now at $91.46, 18% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.
SmarTrend recommended that subscribers consider buying shares of Abbvie Inc on November 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $85.68. Since that recommendation, shares of Abbvie Inc have risen 4.9%. We continue to monitor ABBV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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