4 Trade Ideas for AbbVie: Bonus Idea

4 Trade Ideas for AbbVie: Bonus Idea 4

Here is your Bonus Idea with hyperlinks to the total Top Ten:

AbbVie, $ABBV, comes into the week again at a 61.8% retracement of the drop from January to the low in June. It can also be making a better excessive after a better low. The Bollinger BandsĀ® stay open to the upside. The RSI is deep within the bullish zone with the MACD constructive however degree. There is resistance at 155 and 158.50 then 160 and 162.50 earlier than 165 and 166.50. Support decrease comes at 154 and 152. Short curiosity is low below 1%. The inventory pays a dividend with an annual yield of 4% and can begin buying and selling ex-dividend on January twelfth.

The firm is anticipated to report earnings subsequent on February seventh. The January choices chain reveals the most important open curiosity on the 150 then 145 put strikes. On the decision facet it’s giant at 155 and 165 and 170 however largest at 175. In the February chain it builds from 155 to a peak at 140 then tails to 120 on the put facet. On the decision facet it builds far more steeply from 135 to a peak at 155 then drops to 170. March open curiosity is concentrated on the 160 out and the 175 and 165 name strikes.

AbbVie, Ticker: $ABBV

4 Trade Ideas for AbbVie: Bonus Idea
4 Trade Ideas for AbbVie: Bonus Idea 5

Trade Idea 1: Buy the inventory on a transfer over 155.50 with a cease at 152.

Trade Idea 2: Buy the inventory on a transfer over 155.50 and add a January 152.50/150 Put Spread (93 cents) whereas promoting the February 170 Calls (59 cents).

Trade Idea 3: Buy the January/February 160 Call Calendar ($1.68) whereas promoting the January 149 Put ($1.10).

Trade Idea 4: Buy the February 145/155/165 Call Spread Risk Reversal ($1.86).

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4 Trade Ideas for AbbVie: Bonus Idea

After reviewing over 1,000 charts, I’ve discovered some good setups for the week. This week’s checklist accommodates the primary 5 under to get you began early. These have been chosen and ought to be seen within the context of the broad Market Macro image reviewed Friday which with solely 4 buying and selling days left in 2023, noticed fairness markets proceed to indicate power.

Elsewhere search for Gold to proceed its transfer increased whereas Crude Oil extends a brief time period transfer to the upside. The US Dollar Index continues to float to the draw back whereas US Treasuries proceed their brief time period uptrend. The Shanghai Composite appears to be like to proceed the pattern decrease whereas Emerging Markets are again in broad consolidation.

The Volatility Index appears to be like to stay very low and steady making the trail simpler for fairness markets to the upside. Their charts proceed to look sturdy, particularly on the longer timeframe. On the shorter timeframe there may be now some rotation from including to the QQQ and SPY to placing cash into the IWM. Use this info as you put together for the approaching week and commerce’em properly.

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The info on this weblog put up represents my very own opinions and doesn’t comprise a suggestion for any specific safety or funding. I or my associates could maintain positions or different pursuits in securities talked about within the Blog, please see my Disclaimer web page for my full disclaimer.


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