Abbott Laboratories

AAA

On March 11, we mentioned that Abbott Laboratories (NYSE:ABT) was trading near an influential level of support. We noted that the $50 level was able to prop up the price in the past and that many traders were curious to see if the stock would bounce off it again. As you can see from the chart below, the stock did indeed bounce higher, but unfortunately for the bulls the rally faced some serious resistance near the $55 mark and has since fallen back toward the support level.

Today's close near the horizontal trendline will trigger the interest of many technical traders because the bulls stepped into the stock at $50 before and it wouldn't be surprising to see this happen again.



You May Also Like

Related Analysis
  1. Stock Analysis

    Playing the Rising Robotics with the ROBO ETF

  2. Chart Advisor

    ChartAdvisor for January 30 2015

  3. Chart Advisor

    Use These Two ETFs To Profit From A Reversal In Gold

  4. Chart Advisor

    Trade Strong U.S. Small Caps with this ETF

  5. Stock Analysis

    Faceboook (FB) Revenue Surges on Mobile Ads - Stocks in the News

Trading Center