NicksAnalysis

AbbVie | ABBV | Due for a Correction

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NYSE:ABBV   AbbVie Inc.
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.
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