Check Out What Whales Are Doing With ABBV
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on AbbVie (NYSE:ABBV) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 11% bullish and 88% bearish. The whales have been targeting a price range from $110.0 to $160.0 for AbbVie over the last 3 months. The price of ABBV is currently up 1.21% at $150.33, and RSI indicators suggest the stock may be approaching overbought territory.
August 04, 2023 | 11:44 am
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A large investor has taken a significant bearish stance on AbbVie, with unusual options activity indicating a price target range of $110.0 to $160.0. The stock is currently up 1.21% at $150.33, and may be approaching overbought territory.
The bearish stance taken by a large investor or institution, as indicated by the unusual options activity, suggests that there may be a belief that AbbVie's stock is overvalued and could decrease in the short term. This is further supported by the RSI indicators suggesting the stock may be approaching overbought territory.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100