AbbVie (ABBV) Marked As A Barbarian At The Gate

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Trade-Ideas LLC identified AbbVie ( ABBV) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified AbbVie as such a stock due to the following factors:

  • ABBV has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $479.2 million.
  • ABBV has traded 9.2 million shares today.
  • ABBV traded in a range 241% of the normal price range with a price range of $1.55.
  • ABBV traded above its daily resistance level (quality: 63 days, meaning that the stock is crossing a resistance level set by the last 63 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Barbarian at the Gate' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying positive price action. In this case, the stock crossed an important inflection point; namely, 'resistance' while at the same time the range of the stock's movement in price is more than twice its normal size. This large range foreshadows a possible continuation as the stock moves higher.

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