AbbVie saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 68 to 71.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if AbbVie can continue to rebound and clear that threshold.
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AbbVie is working on a weekly consolidation pattern with a 168.11 entry. On a daily MarketSmith chart the stock looks extended. Not so on the weekly. See if the stock can break out in heavy trading.
ABBV Earnings
The company reported negative growth for both sales and earnings last quarter. The company is expected to release its next quarterly numbers on or around Feb. 2.
AbbVie earns the No. 4 rank among its peers in the Medical-Ethical Drugs industry group. Zoetis and Novartis ADR are also among the group's highest-rated stocks.
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