ABBV Elliott Wave Analysis Trading Lounge Daily Chart,Abbie Inc., () Daily Chart ABBV Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 3. DIRECTION: Upside into wave {v} of 3. DETAILS: Looking for upside into wave {v} as we are trading within the parallel channel where we could eventually seek for support within wave {iv}.(Click on image to enlarge)ABBV Elliott Wave Analysis Trading Lounge 1H Chart,Abbie Inc., (ABBV) 1H Chart ABBV Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iv} of 3. DIRECTION: Bottom in wave {iv}. DETAILS: Looking for a potential complex correction in wave {iv}, as labelled on the chart. Alternatively we could look for a potential triangle in the making.(Click on image to enlarge)This Elliott Wave analysis for AbbVie Inc. (ABBV), breaks down the stock’s current price action using Elliott Wave Theory, providing traders with insights into possible opportunities. We’ll explore both the daily and 1-hour charts for a more comprehensive outlook.* ABBV Elliott Wave Technical Analysis – Daily Chart* On the daily chart, AbbVie is progressing through an impulsive trend, currently within Minor Wave 3. The stock is advancing into Wave {v} of 3, with a clear upside direction in play. ABBV is trading within a parallel channel, a typical feature in motive waves, providing guidance for potential support and resistance levels. * ABBV Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, ABBV appears to be in Wave {iv} of 3, potentially nearing the end of a corrective phase. The current structure suggests a complex correction within Wave {iv}, which could involve more intricate corrective patterns such as a zigzag or a flat. Alternatively, there’s a possibility of a triangle pattern forming within this wave, a common structure in fourth waves.
