[SIM-3341619]

Purchased some ABBV, thought I'd share the stock with yall.



My Insights:
-Using a previous breakout resistance as support (not very strong, but can be legitimate are to stand on - $75)
-Partial Falling Wedge, There was a short break of that "Falling Wedge" resistance but the support trend was broken and the volume did not compare to previous breakouts. So a fakeout so to speak.
-Bull Divergence on the MACD is being displayed

If the uptrend support on the daily is broken I'd look to short to $75 again and re-accumulate, the long term reversal will be nice.

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As always good luck with your trades!

[Arachnoking]

I'm a complete noob at trading and so my insight is just from videos I've been watching but is it smart to buy a $75 stock trending downward?

[SIM-3341619]

I'm a complete noob at trading and so my insight is just from videos I've been watching but is it smart to buy a $75 stock trending downward?

It's at a support level so unless that is broken then yes.
Volume has somewhat indicated a reversal as well.

[xGuardian]

Personally, 70-75 would of been more ideal IMHO
But I also like to play the breakouts after they happen vs while still forming.
In forex you get raped by swap fees during consolidation if not xD

[SIM-3341619]

Personally, 70-75 would of been more ideal IMHO
But I also like to play the breakouts after they happen vs while still forming.
In forex you get raped by swap fees during consolidation if not xD

True although it does have some downtrend potential still, sources I know in the medical field are fundamentally long on this.
I should also clarify this is a longer trade for me.