4/10/19

 

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