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Abbott

Flag Pattern on ABT, the way we will trade itToday we will show our analysis and setup we are planning to take on ABT Technical Overview: -The price is inside an ascending channel -Currently is in contact with a key support resistance zone + the ascending trendline -In Technical analysis confluence situations provide interesting places to think in terms of buying or selling pressure Setup development: -We can see an ABC pattern on the confluence zone (support resistance zone + ascending trendline) -IF the price reaches the green line we will consider that as a trigger for our view. We will set stop loss below the structure, break-even on the first fibo extension and take profit on the final fibo extension -IF the price doesn't reach the green line, and keeps falling below the Flag pattern, we will cancel our bullish view. -Risk we are taking on this setup: 1% of our capital Thanks for reading!
NYSE:ABT
by ThinkingAntsOk
2
A Bullish breakout means a 15% upside potential / ABTToday, we will take a look at ABBOTT laboratories. - From a technical perspective, the price is above an ascending channel - Since August 2020, we observed a 150 days consolidation - We can now see an ascending triangle, which is considered a continuation pattern once the flat line is broken. - IF we have a clear breakout, we expect a bullish movement towards 132 - ABBOTT is an extremely bullish stock that has been performing really well (+80% in 2020) - We will consider that the setup is no longer valid if the price goes below 99USD per share
NYSE:ABTLong
by ThinkingAntsOk
2
$ABT Cup and Handle Pattern Formation on DailySentiment: Bullish Reasons: Technical Analysis & News Catalyst News has just been released that $ABT has been approved by the U.S to begin working on a 5$ rapid COVID-19 antigen test. I find this to be huge considering the inconvenience in searching for a COVID testing facility in certain places in the U.S as well as the discomfort associated with the actual process. In addition price action is just nice if Im being honest. It has underwent a long series of consolidation and converging trendlines and is due for a breakout.
NYSE:ABTLong
by DannyNoburu
Potential LONG For Abbott StockIn its latest earnings report, released on 03/31/2020, Abbott reported a quarterly revenue of $7.73 billion and a net profit of $758 million. Abbott Laboratories is expected to post earnings per share (EPS) of $0.32 for the third quarter of 2020. Key Trading Plan: Wait for pull back to the support level of 92.25 before the price eventually rallies up to the Take Profit Target level of 100.29. The upside movement is still strong, hence any SHORT position is kinda risky to take at the moment. ‼️Disclaimer: Please be advised that we are NOT Financial Advisors. We are not responsible for the results of your Forex or CFDs trading. The only person responsible for profits or losses is yourself. You should not consider any market information, educational and analytical material as trading advice that defines your trading actions but purely as educational market material. Please be advised that S.I.D. Capital shall not be liable for any errors in quotes and trading platform software errors. ‼️This Channel and all information is intended for educational purposes only and does not give financial advice. S.I.D. Capital Signals is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities.
ALong
by SIDCapital
SPX at the crossroad- Macro overview and economic indicatorsPlease click like and follow me if you like my post. Much appreciated! SPX has been going on a W ride for a while and is currently only down around 15 percent from its mid Feb high, putting it in the midpoint of the correction and recession phase. If this trend continues on, it is safe to expect that SPX will more likely to challenge its mid Feb high than retest its March 23 low. However, the current resistance lvl seems to have stalled its momentum somewhat as the weekly candle indicates an indecisive market sentiment. It is worth to see if there is an accelerating net inflow into bond and equity fund and net outflow from liquid assets such as money market fund & saving deposits and total deposits at US commercial banks in the upcoming weeks. In order to sustain the rally, more investors need to to put their money back into the equity market. Some encouraging news and signs are already happening- *Stocks have vastly outperformed bonds by 11.92 percentage points during the last 20 trading days *Call options far outnumbered put options *VIX is steadily declining and briefly went below 40 few days ago. *Remdesivir- Early result of severe clinical trial is encouraging. Few caveats- Still wait for the result of full clinical trial and more data from randomized controlled trial is needed. Also, the severe trial was conducted without the placebo group, meaning researchers don't not know what would have happened to these patients had they not been given the drug. *Abbott recently announced new coronavirus antibody test that could do up to 20 million screenings in June. This antibody testing allows us to know if someone has been previously infected, if recovered from the infection provides the immunity and how long antibodies stay in the body. *Exponential growth has slowed down a little bit the past few days, but the fatality rate is still climbing. Hospitalized # seems to have flattened the past few days even though the positive testing rate has gone up to nearly 20%. Overall, the growth rate has gone down to the average of single digit 7 % compared to the double digit growth rate few weeks ago. It is safe to assume that US is potentially transitioning from the stage of slowed down exponential growth to the stage of flattened curve. On the other hands, all economic indicators and warning signs point to the rather bleak outlook- *Vast majority of stocks is still below SMA200 and SMA50 *The number of stocks hitting 52-week lows exceeds that of hitting 52-week highs *Retail sales tanked 8.7% in March, the largest decline since the government started tracking retail sales in 1992 *March CPI fell 0.4%, the largest monthly decline since Jan.2015 *Industrial production dropped 5.4% in March, largest drop since 1946 *The March PMI registered 49.1 percent, an 1 percentage drop from the February. The New Orders Index suffered a drastic decline of 7.6 percentage due to the export contraction, suggesting a weakening demand from customers. *Initial claim is down from its peak while continuous claim continues to surge *unemployment rate is projected to be as high as 20% *Crude Oil declined 67.50% since the beginning of 2020 *The NAHB/Wells Fargo Housing Market Index (HMI) Builder confidence in the market for single-family homes plunged 42 points to 30 in April, the lowest point since June 2012 *Building permits in the United States fell 6.8 percent, the sharpest drop since July 2015 *Housing starts in the US plunged 22.3%, the biggest decline in housing starts since 1984 *Small business rescue loan program already hit the $349 billion limit *Massive credit downgrade as corporate earning approaches and many corporate bonds fall to distress lvl *Market-cap to GDP is still in the overvalued zone In the midst of the Covid-19 crisis, central bank launched its latest program that allow foreign central banks to convert their Treasury securities into dollars in order to alleviate the USD shortage problem. This was a response to the ever-increasing liquidity crunch that is rarely seen in traditionally the most liquid market in the world. In recent days, treasury yields have not fallen like they usually do in the past during the event of massive sell-offs in equities. Other worrisome signs are the elimination of reserve requirement and the inclusion of previously excluded category of less-than-investment grade corporate bond to the Fed asset purchases. The result of these drastic measures is sure to ballon the Fed balance sheet, federal deficit and debt-GDP ratio in the near future, further compounding the U.S Debt dilemma. Lastly, the potential danger of second wave infection in China cannot be overstated. The fragility of the global supply chain is already being exposed during the pandemic and the problem will be further exacerbated if the world's second largest economy fails to prevent the re-emergence of virus. Overall, I am cautiously optimistic. There are many potential events and developments to pay attention to such as the serious supply chain bottleneck and essential worker shortage that could trigger the massive sell-off. Also, I am waiting to see how the market will react to the upcoming quarterly GDP, unemployment # and corporate earning. Stay safe out there my friends! Please do your own due diligence. Not the investment advice, just my personal take on the current situation.
SP:SPX
by Libratus
2
Medical devices will winHealthcare has been a leader YTD, as it has the defensive nature and is gaining momentum on the spread and containment of the COVID. Also, negative sentiment of the healthcare sector regarding the opioid crisis (which seems like a long time ago now), and politicians creating regulations for insurance reform; has now subsided. Inside the XLV, IHI (medical devices) and IBB (Biotechnology) have been outperforming, and will likely continue to do so. The 3 most important holdings of the ETF will be very important during this pandemic: 1. ABT (diagnostic test for COVID) / 12.63% 2. MDT (medical ventilators/respirators) / 12.52% 3. TMO (diagnostic test for COVID) / 10.82%
AMEX:IHILong
by dorfmanmaster
ABBV BreakoutHuge breakout for ABBV closing the day above the double top formed from 2014/2015 highs between 70.70 and 71.60, both offering little resistance. RSI pushing into the high 80s shows good strong move up in my opinion, I won't be using RSI for short/sell/TP signal, rather buy more when it dips to over-sold territory on consolidation in the next few weeks... if that even happens. MACD indicator has room to continue upwards, watching MACD and EMA 20/50/200 crosses for a close trade signal. ABBV is still a strong buy for me. I went long after the previous longer term channel break near 70.10 last week, stop loss around 71.40 currently. GLHF!
NYSE:ABBVLong
by Dank-Traders
Can Harmonic pattern work on Stocks ??It has been awhile since I last traded stocks, I have been focusing on mainly on the Forex market. I would like to add on some stock analysis here from now on. Why Abbot as my first analysis, we have been giving our kids milk powder from Abbot since they were born ;) (no I am not a spokes person from Abbot) hahaha Price completed the Bat pattern at around 37.80 and price immediately reacted to that level. Now I am hoping for a retest of the level for an approximately 1:2 risk reward trade. Cheers
NYSE:ABTLong
by BoonHooi
3