NORTH CHICAGO, IL – Pharmaceutical giant AbbVie Inc. (NYSE: ABBV) endured a punishing trading session on Thursday, closing down sharply as persistent selling pressure dominated the day. This weak performance sets a decidedly bearish tone for the stock heading into the new trading week.
AbbVie closed the session at
4.48, or 2.40%. The stock’s intraday chart tells a story of relentless selling. After opening near the day’s high of $188.00, shares entered a steep and steady decline for the entire session, hitting a low of $181.73 before closing just slightly above it.
This type of price action, where a stock closes at or near its lowest point of the day, is a strong technical indicator of bearish sentiment. It suggests that buyers were largely absent and sellers maintained firm control right through the final bell.
While there was a modest recovery in after-hours trading, which saw the stock climb to $183.00, this slight uptick does little to offset the powerful downward momentum established during regular market hours. This bounce may represent some short-covering but doesn’t yet signal a reversal of the trend.
Looking ahead to Monday, the path of least resistance appears to be lower. The key level for investors to watch will be Thursday’s low of $181.73. A breach of this support could trigger another wave of selling. Given the severity of the sell-off and the weak close, the market for AbbVie is likely positioned to move down at the start of next week.
