This Foreboding Sign Looms Over AbbVie's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on AbbVie's (NYSE: ABBV) chart, which could indicate a bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a potential change in the long-term trend.

June 09, 2023 | 2:51 pm
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AbbVie's chart has formed a 'death cross', which could indicate a bearish trend for the stock. This may prompt seasoned investors to consider possible short positions.
The 'death cross' is a technical indicator that occurs when the 50-day moving average moves below the 200-day moving average. This is generally considered a bearish signal, suggesting that the long-term trend may be changing. As a result, seasoned investors may start considering possible short positions based on other factors, such as price levels and company fundamentals. This could lead to a negative short-term impact on AbbVie's stock price.
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