ABBV Comprehensive analysis

Chart Analysis:

1. Asset: AbbVie Inc. (ABBV) on NYSE
2. Timeframe: 1-hour chart
3. Date Range: August 2023 to September 2024 (future projection)

Price Action and Trend Analysis:
The chart shows a bullish trend from August 2023 to June 2024, with the price rising from around $150 to a peak of about $170. There are several notable features:

1. Strong upward momentum from November 2023 to January 2024.
2. Consolidation phase from January to May 2024.
3. Recent breakout to new highs in June 2024.

Support and Resistance Levels:
- Major support: $155.12
- Minor support: $163.60
- Current resistance/sell point: $170.83
- Previous resistance turned support: $165.21

Volume Analysis:
Without clear volume bars, it's challenging to make a definitive volume-based analysis. However, the presence of multiple long and short positions indicated on the chart suggests active trading periods.

Technical Indicators:
RSI-VWAP Indicator (17, 19, 80) is visible at the bottom of the chart, currently reading 57.20. This indicates:
1. The asset is not overbought or oversold (neutral territory).
2. There's still potential for upward movement before reaching overbought conditions.

Trading Strategy and Projections:
The chart includes a projected trading strategy with the following key points:

1. Current price: $170.83
2. Sell Point identified at the current price level
3. Projected price movement: A decline followed by a period of consolidation
4. Take Profits level: Around $155.12

Risk and Reward Scenario:
- Potential Reward: If the projected decline occurs, there's a potential for a 9.2% return from the current price to the Take Profits level.
- Risk: The asset is at all-time highs, which could lead to continued bullish momentum, invalidating the short-term bearish projection.

Trading Opportunities:
1. Short-term Short Position:
- Entry: Current price ($170.83)
- Stop Loss: Above recent high (e.g., $172.00)
- Take Profit: $155.12
- Risk-Reward Ratio: Approximately 1:3

2. Long-term Long Position:
- Entry: At support level ($163.60 or $155.12)
- Stop Loss: Below the entered support level
- Take Profit: New all-time highs above $171.00

Anomalies and Divergences:
The rapid price increase from May to June 2024 without a clear consolidation phase might indicate potential overextension of the bullish trend.

Conclusion:
ABBV shows a strong overall uptrend but appears to be at a critical juncture. The chart suggests a potential short-term bearish move, followed by consolidation. However, traders should be cautious of the overall bullish trend and the possibility of continued upward movement.

Risk Management:
Always use proper position sizing and stop-loss orders. The volatile nature of this asset, as evidenced by large price swings, necessitates strict risk management.

Note: This analysis is based solely on the technical aspects visible in the provided chart. Fundamental analysis and broader market conditions should also be considered before making any trading decisions.