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Abbott Laboratories

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ABL trade ideas

Bullish Breakout of Lightning CloudThe stock has formed an inverted head and shoulder pattern in Apr, 2020 and turned the outlook to positive. The prices are supported by a bullish trendline, which also confirms a positive trend. In addition, the stock has broken above the upper boundary of a bullish flag pattern and has just broken above the lightning cloud with a larger white candle. The 50-day (blue line) moving average is turning up and is likely to cross above the 250-day (red line) one in sight. The daily RSI is supported by a bullish trendline and is heading upwards above its neutrality level at 50%. The MACD is above the 0-level and is turning up, while the MACD histogram is narrowing. In sum, the technical picture of the stock is positive. Above lighting cloud, the stock is likely to further upside and challenge the next resistance at $100 again. A break above this level would call for a further advance towards $103 (127.2% fib. Extension between point A and B).
NYSE:ABTLong
by JChartWithU
ABT - Price Pattern Analysis/Falling WedgeBelow is a detailed chart of some of my favorite trading techniques and how they apply to day trading - more specifically here is the falling wedge. This is one of my favorites to trade - especially after an uptrend like in ABT, as they are heavily biased towards bullish breakouts. These offer great potential from a risk-reward point of view - limited downside but high potential. Highly recommend adding this tool to your arsenal if you aren't already familiar!
NYSE:ABT
by brycat23
1
Possible bullish continuation flag to the all time highHere we see a downward flag ( bullish flag ) that formed from the uptrend after it reached the all time high. This could mean a possible uptrend continuation after the break of the flag going up. We see some support below between 93 and 92, but it could possibly break that as well and change directions, but nothing is written in stone. We also have the COVID-19 going on, so that is something major that could cause it to change trends and continue down. We need to wait a few more days to see what it will do. We also have the COVID-19 going on, and that is something major that could cause it to change trends and continue down.
NYSE:ABT
by gsotolongo