ABBV Zones
Aktualisiert
All rectangles are potential zones of influence for support/resistance pressure. Same applies to the 2 curves.
1st, I don't know if the red will prove to offer more resistance to the price as initially suspected, or failing and triggering a penetration.
2nd, even if it does prove to be a resistance force zone, don't know if the price will manage to squeeze between it and the purple
I am a little bearish biased for now as the project also suggests with the descending rectangles, but will be following the price action especially near any of the elements in the design, to watch out for any rebounds from these shapes.
If the situation changes I might add other rectangles especially on the upside which is not covered, in case the earnings push this in bullish territory, but we might not need them.
1st, I don't know if the red will prove to offer more resistance to the price as initially suspected, or failing and triggering a penetration.
2nd, even if it does prove to be a resistance force zone, don't know if the price will manage to squeeze between it and the purple
I am a little bearish biased for now as the project also suggests with the descending rectangles, but will be following the price action especially near any of the elements in the design, to watch out for any rebounds from these shapes.
If the situation changes I might add other rectangles especially on the upside which is not covered, in case the earnings push this in bullish territory, but we might not need them.
Anmerkung
Bouncing between the green marked price level and the red zone rectangle. Let's see which one gets broken first for potential signs of things to come. Anmerkung
Red zone did an impressive job with the resistance and the green seems to be broken. Looking for next potential signs of support or resistance at the yellow curve and purple rectangle...Anmerkung
The worst of the best happened. The price managed to slip through the 2 rectangles finding support on the purple and catapulting into the atmosphere. Currently finding some imaginary resistance at the white curve which should theoretically be overcome. There is a case for a further descent eventually at the purple where it meets the white and maybe we can take it from there for a potential climb towards the white marked price level, but first we have to get there and see how it looks. Has it ever occurred to you that the catchphrase "the end of times" is just a joke, and it actually means some astrophysicists will just conclude we live in a simulation and time is just a construct? :) just kidding. Surely it must be worse than that.
Anmerkung
Not an ideal setup with the retest around the previous higher open/close but I am considering the potential of it sliding from here eventually.
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