ABT broke out of it multi-year range last week and pulled back this week to retest and re-gather, giving market makers a chance to buy back sold short at higher levels. The pullback didn't fully close the gap from the news announcement last Tuesday about ABT splitting into two companies to unlock the value in shares. NOTE: This is the way that companies announce to the world that their is cheap and underpriced. Whenever a company decides to split up in order to get lazy investors to wake up to see the value, it is almost always a decent time to begin investing. Upside potential $59-$61, stop loss, $51.50. $53.65 last. +2% overnight on EU banking news.
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com