NEW BULLISH Plays
AbbVie Inc. - ABBV - close: 46.05 change: +0.82
Stop Loss: 44.90
Current Gain/Loss: unopened
Entry on May -- at $--.--
Listed on April 30, 2013
Time Frame: 2 to 4 weeks
Average Daily Volume = 8.1 million
New Positions: Yes, see below
Why We Like It:
ABBV is a spin-off from Abbott Labs (ABT). The new stock, ABBV, has managed to outpace its peers and the rest of the market. Currently shares are hovering just below short-term resistance near $46.30. A breakout past this level could spark the next leg higher.
ABBV has been a little bit volatile over the last couple of weeks so I am suggesting we keep our position size small to limit our risk. Tonight I'm listing a trigger to launch bullish positions at $46.50. If triggered our target is $49.50.
Trigger @ 46.50 (small positions)
Suggested Position: buy ABBV stock @ (trigger)