The chart shows AbbVie Inc. (ABBV) on the daily timeframe.
After a strong impulsive rally (black trendline leg), price entered a descending parallel channel, indicating a corrective phase rather than a confirmed trend reversal — at least for now.
Current price: ~231
Price is testing the upper boundary of the descending channel.
🔎 Structure Overview
• Prior structure: Strong bullish impulse
• Current structure: Bearish correction (lower highs + lower lows inside channel)
• Moving average flattening → momentum cooling
• Price sitting at resistance (channel top)
This is a breakout vs continuation decision zone.
🟢 Bullish Scenario (Channel Breakout)
If:
• Daily close above 235–238
• Strong follow-through candle
• Volume expansion
Upside targets:
• 245
• 255
• Potential continuation toward 265
This would invalidate the corrective channel and signal trend continuation.
Long Invalidation:
• Rejection from channel top + close below 225
🔴 Bearish Scenario (Correction Continues)
If:
• Price rejects current resistance
• Break below 220
Downside targets:
• 210
• 200 (channel base)
• Possible overshoot toward 195
This would confirm continuation of corrective structure.
Short Invalidation:
• Break and hold above 238
📊 Structural Insight
Important distinction:
• This looks more like a bullish trend in correction, not a full trend reversal yet.
• Breakout from descending channel often triggers strong upside expansion.
• Failure at resistance increases probability of retest of channel lows.
After a strong impulsive rally (black trendline leg), price entered a descending parallel channel, indicating a corrective phase rather than a confirmed trend reversal — at least for now.
Current price: ~231
Price is testing the upper boundary of the descending channel.
🔎 Structure Overview
• Prior structure: Strong bullish impulse
• Current structure: Bearish correction (lower highs + lower lows inside channel)
• Moving average flattening → momentum cooling
• Price sitting at resistance (channel top)
This is a breakout vs continuation decision zone.
🟢 Bullish Scenario (Channel Breakout)
If:
• Daily close above 235–238
• Strong follow-through candle
• Volume expansion
Upside targets:
• 245
• 255
• Potential continuation toward 265
This would invalidate the corrective channel and signal trend continuation.
Long Invalidation:
• Rejection from channel top + close below 225
🔴 Bearish Scenario (Correction Continues)
If:
• Price rejects current resistance
• Break below 220
Downside targets:
• 210
• 200 (channel base)
• Possible overshoot toward 195
This would confirm continuation of corrective structure.
Short Invalidation:
• Break and hold above 238
📊 Structural Insight
Important distinction:
• This looks more like a bullish trend in correction, not a full trend reversal yet.
• Breakout from descending channel often triggers strong upside expansion.
• Failure at resistance increases probability of retest of channel lows.
คำจำกัดสิทธิ์ความรับผิดชอบ
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน