AbbVie (
ABBV
) looks weak at resistance and may be due for a drop in the coming weeks. Pretty strong bearish divergence. Insiders selling almost $16 million worth of shares in the past month at an average of $147.87 (source: OpenInsider). If this starts to drop, support points are the 50 EMA (yellow line), $135-$136, and then the support lines / 200 EMA. Small gap to fill between $145.70 and $145.76.
New drug approvals or positive company outlook could change this forecast.
ABBV
) looks weak at resistance and may be due for a drop in the coming weeks. Pretty strong bearish divergence. Insiders selling almost $16 million worth of shares in the past month at an average of $147.87 (source: OpenInsider). If this starts to drop, support points are the 50 EMA (yellow line), $135-$136, and then the support lines / 200 EMA. Small gap to fill between $145.70 and $145.76. New drug approvals or positive company outlook could change this forecast.