Abbvie (ABBV) – Triple Bottom Reversal – May 10th, 2019

The bullish DailyPlay we chose for Friday, May 10th is Abbvie (ABBV). ABBV is part of the Healthcare Sector (XLV). XLV has declined 3.12% lower over the past month and its 1m and 6m trend turned neutral and bearish yesterday but just bounced higher off its $88 support level.

Abbvie’s 1m and 6m trends turned bearish on April 30th and recently bounced higher off its $77 major support level yesterday. With a technical score of 4 (out of 10), ABBV is a weak stock that may bounce higher.

As a stop loss, if ABBV was to trade below $77 for multiple days, this would invalidate our analysis and suggest getting out of the trade.