Chart Patterns & Algorithmic Trader (Aug. 24, '20) (40)
ABBV Cup & Handle Pattern
s
AbbVie Inc (ABBV) is forming a Cup and Handle pattern on its daily chart and trading
near the breakout level of $97.96. C&H patterns are valid only when price closes above
the breakout level. A long trade is entered above the breakout level with a stop placed
below the lowest low of the mid cup $80.21, and the handle low $91.73. Targets are
placed at $111.28, $119.7 to $125.6.
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