AbbVie made a top in July 2015 at 71.51 and broke quickly to the downside in 5 waves to 45.45. Then, from Oktober 2015 until August 2016 the stock was clearly in a correction and 71.51 was never threatened.
Later Abbvie turned south at 68.12 and made another (smaller degree) 5-wave decline to 63.06 and we are now correcting this impulsive move down.
According to the Elliott Wave Principle we can now expect that the stock will turn and make another leg down before it reaches 68.12, If we end up above this level this count is invalid.
