Stock Charts to Watch: AbbVie (ABBV)
Click to EnlargeSanofi isn’t the only healthcare stock poised to move higher in a rally. AbbVie (ABBV), the pharmaceutical concern that was spun out of Abbott Laboratories (ABT) in 2012, has attempted — and failed — to get through the $54 barrier on multiple occasions in the past year.
At Friday’s close of $53.95, ABBV stock is again set to make a run at this resistance point. The stock has run up quickly from $46 in just a little more than a month, which might cap the additional upside on a breakout, but the strength of this resistance indicates the potential for a quick $2 to $3 move.
Also keep an eye on Abbott itself, which is near resistance of its own in the $40 to $41 range.