ABT is bounced up off a fib retracement and strong fundamentals as well as technicals prove to be a long. ABT needs to break through 90 and and then 92.5. If cases rise, then ABT testing and their other products might be front and center. Earnings are also a month away, setting up for a long bull case for ABT. short term target 100. Long term target 115.
First, consider a fib retracement. We bounced back to the top fib retracement .236, and thats where we topped with a heavy head and shoulders patterned that crashed markets today. We might see a bounce and recovery soon, but I think this kicks of wave C of the correction wave, heading down now until the end of q2, where we start to see recovery happen in q3 and...
