AbbVie Inc. (NYSE: ABBV)
AbbVie is a little bit than many of the other stocks we have covered in our technical analysis section. Per their website, they describe themselves as “a company that takes on the toughest health challenges. But we do more than treat diseases—we aim to make a remarkable impact on people’s lives. We are AbbVie, a highly focused research-driven biopharmaceutical company.” Abbvie can be considered a cannabis play due to its research within the cannabinoid space. OK, I know what you are really thinking here; How do I take on the toughest charts to read and interpret. Very good question. Let’s take a look at the chart and see if we can shine some light on this.
What do you like to look for in the morning? Let us tell you about something you should be looking for in the morning if you are trying to find a good trading opportunity. A Morning star or sometimes referred to as a bullish morning doji star. So what is a morning star, and how do we identify it. A morning star is a candlestick pattern that forms on the chart and can be used as a bullish reversal signal. We look for prices in a downtrend. The first candle of this pattern will be a large red candle. The second candle that follows will be lower in price, but be a doji (the open and closing price the same or very near in this case). Finally, the third candle in this setup will be prices going higher again and creating a nice white candle that climbs halfway back up off the prices of our first candle. In the highlighted case of Abbvie you can see that
Note: This is an American ticker for those looking to diversify
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