AbbVie Zombie


For the past two and a half months, ABBV has been congesting in a tight range only to blip above established resistance.


As the S&P marches on higher, we’re on the lookout for equities that are not participating; or even better, have their own agenda.


ABBV looks like it might be in a class of its own. 


BigCharts lists the dividend yield as 5.18%.  One wonders how long that can last with a Book Value at minus - 5.65, and Debt to Equity also minus at a whopping - 414.40%. (www.worden.com)


I’m not sure I’ve ever seen a minus debt to equity … that’s new.  You’re welcome to help me out on that.


Then there’s the headquarters location.  Chicago, Illinois.  What a wonderful place to work.  If I don’t get shot on my way to work, I can always turn on the news to find out which one of my co-workers did.


How can an entity like this attract quality employees?


Price action is languishing and may be at a pivot point.  We’re watching to see if the upside breakout holds or fails. 


Failure, obviously results in opportunity for the downside


Charts by StockCharts