Another Biotech Winner? Please And Thank You.

This is a Post from the Symbol Surfing Blog from Fri, Aug 17, 2018.


I have been able to make a couple good trades in biotech stocks this year with BIIB and BMY.

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.

Wow!

"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."

https://www.barrons.com

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.

via GIPHY

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Hello! My name is Tom Adishian and I am the creator and developer of Symbol Surfing. I use this site on a daily basis as a time-saving resource to identify trading and investing ideas. If you have a comment, question or suggestion, contact me.

Fri, Aug 17, 2018 ABBV @ $98.81

Fri, Aug 17, 2018 ABT @ $64.72