SUMMARY
ABBVIE (ABBV); the spinoff of Abbott has delivered 3.9x return since the separation. In stock terms; that a fantastic return! Can it keep going?
The below shows the actionary and reactionary subwaves of a higher degree of trend impulse. The ABC was an expanded (3,3,6) ABC type of correction which often signals a midterm consolidative correction and sure enough, price chugged up towards $126 before kicking off a major correction.
The purple waves designate the higher degree of trend Elliott Waves and purple (3) seems to be complete. So the purple (4) corrective sequence is in progress. The ABC red sequence is one of 34 potential combinations the correction can take. Once complete, purple wave 5 is expected to allow higher highs and all time new highs.
The MACD is curling up and this indicates that the red B wave could be started. The red B should provide a nice retracement. Now, when is the best time to buy? To me, it's always at the terminal ends of a correction. So, would wave C terminal end be a good time to buy?
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Its a wonderful thing
Please do EOS next please.
@elijah526 I made my predictions not long ago in case you are interested in Spanish and English
I alwys see your post and follow you.resteemit done.
I really appreciate this piece of information @haejin. It is really resourceful
@haejin (is that Japanese or what?) It's the first time that I really read through your whole post, while trying to follow what you are saying.
ABBV also has some pretty ridiculous dividends!
I am a big holder of ABBV. Thanks for the analysis!