AbbVie's (NYSE: ABBV) share price has been under pressure due to rising costs and concerns that its post-Humira days won’t be as robust. However, the stock price decline put the market in a position to trigger a trend-following signal, which happened after its Q1 earnings results.
The results initially left the market wanting more, but the stock price drop at the open triggered a buying frenzy. Share price immediately moved up from the low, confirming support at a critical level and indicating high potential for a rebound.
