Email Alerts

Closing Out Our Long Idea In AbbVie Inc. (ABBV) Today

Posted on: Friday, September 15th, 2017

Pharmaceutical stock AbbVie Inc. (ABBV) declined to $88.15 today, triggering our sell stop to close out our long idea, first mentioned in an August 7th Asbury Alert entitled AbbVie Inc. (ABBV) Resuming Its 2017 Advance (access requires subscription), to capture a 24% gain in 29 business days.  ABBV came within $1.31 or 1.5% of reaching our $91.00 target as stated in our August 7th report.

ABBV outperformed the S&P 500 (SPX) by 22.7% during this same period.

Editor’s Note:  Our price target being met does not necessarily mean that the directional move is over, only that our initial expectations have been reached.

Here is the chart that appeared in our August 7th report.

ABBV daily: January 2017 through August 7th

Here is the updated version of that chart through this morning.

ABBV daily: January 2017 to September 15th

 

We publish these notifications for 3 reasons:

  1. to let Asbury Research subscribers know when to consider taking profits on existing positions,
  2. to let non-subscribers track what we are doing in the market, in real time, and
  3. to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.

 

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