Posted 12/13/2023, 8:49:00 PM
AbbVie Stock Approaching Buy Point After Acquisitions and 11 Days of Gains
- AbbVie stock price rising, nearing a buy point after 11 straight days of gains
- Recently announced two major acquisitions - $10.1B acquisition of ImmunoGen and $8.7B acquisition of Cerevel Therapeutics
- Offers a rare 4% dividend yield for a biotech stock; has raised its dividend for 10 consecutive years
- Diversifying revenue away from flagship Humira drug through recent acquisitions
- Forming a cup pattern, approaching 154.88 buy point identified by MarketSmith