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Archive
- 9/13/2024 -
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Abbott Labs (ABT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fifth consecutive positive week for the Abbott Labs (ABT). During the week, the ABT gained 2.54 points, or 2.23%, and closed at 116.40 on Friday, September 13, 2024. Weekly volume was -16% below average.
ABT is a member of Health Care Sector. Health Care is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ABT long-term trend chart]
A long-term downtrend had started on March 8, 2024 at 121.63 and reached 99.71 on July 18, 2024. ABT lost 21.92 points, or 18.02%, in 18 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (98.62) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ABT may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See ABT medium-term trend chart]
A medium-term uptrend had started on July 18, 2024 at 99.71 and reached 117.31 on September 12, 2024. ABT gained -17.60 points, or -17.65%, in 8 weeks. The price is now at the 5.17% retracement level.
 Weekly Technical Indicators: [See ABT weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since August 2, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See ABT short-term trend chart]
A short-term uptrend had started on August 12, 2024 at 107.11 and reached 117.31 on September 12, 2024. ABT gained -10.20 points, or -9.52%, in 31 days. The chart has formed a Broadening Ascending Wedge chart pattern.
 Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
8 |
| Industry |
Health Care Equipment |
87 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Low |
107.11 |
| Low Date |
08/12/2024 |
| High |
117.31 |
| High Date |
09/12/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
99.71 |
| Low Date |
07/18/2024 |
| High |
117.31 |
| High Date |
09/12/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
95.93 |
| Support |
98.62 |
| High |
121.63 |
| High Date |
03/08/2024 |
| Low |
99.71 |
| Low Date |
07/18/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
89.67 |
| Low Date |
10/12/2023 |
| High |
121.63 |
| High Date |
03/08/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
142.60 |
| High Date |
12/27/2021 |
| Low |
89.67 |
| Low Date |
10/12/2023 |
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