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 stock 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 stock 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. Stock futures +2% overnight on EU banking news.
Comments
dimes
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Agreed.
admin
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Well done Tim
timwest
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Thanks
admin
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Agreed.
timwest
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It's nice to review this chart again. Thanks mollr for finding this chart. If anyone would rate this with a "thumbs up" then maybe it too will become a "bulls-eye". Cheers.
mollr
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Followed.
timwest
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ABT has finally reached the target listed at $59-$61 ... Thankfully this worked out nicely and with very little price volatility against the position. I view this as a big winner, especially relative to the risk.