Another Biotech Winner? Please And Thank You.
This is a Post from the Symbol Surfing Blog from Fri, Aug 17, 2018.
Another one that looks good right now is Abbvie.
Abbvie originated as a spin-off of Abbott Laboratories.
This is a $150 billion market cap biotech stock that pays almost 4% in annual dividend yield.
Also, their P/E Ratio is in the low 20s.
"We’re still committed to be able to return significant capital to shareholders," the company’s CEO, Richard Gonzalez, said during the second-quarter earnings call in late July, adding that "we have the ability to continue to grow the dividend."
On the 1-year stock chart, I have highlighted the trading range between $90 and $100.
It would be great if the stock continues the post-earnings rally.
I wish I bought a couple days ago, but now I have seen more of a stronger confirmation on the stock price movement.
Obviously, I am hoping the stock price breaks through the resistance at $100 and heads back to previous highs.
On the downside, it looks like there is a lot of support at $90.
In that case, I would be ok waiting while receiving the dividend.
Either way, I like this trade.
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Fri, Aug 17, 2018 ABBV @ $98.81
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