timwest

ABT long term breakout setup

NYSE:ABT   ABBOTT LABORATORIES
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ABT             is very close to making all time highs. The stock has been holding in a range for more than a few years. ABT             is still working off the excessive valuations that were reached in the late 1990's. Sales and earnings have steadily advanced over the past 10 years to bring valuations back down to more earthly levels. If a breakout above $55.20 occurs, then look for a longer term move up towards the 60-70 area over the next year.
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ABT broke out today on news. I imagine analysts and investors will look over ABT shares and see if the relatively low valuation is attractive. This breakout could begin a steady, grinding advance in ABT over the next 6-12 months.
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very nice
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