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. Chart Advisor

    Profit From Holiday Spending With This ETF

  2. Chart Advisor

    Cocoa Prices Setting Up For A Move Lower

  3. Chart Advisor

    How To Trade The Biggest U.S. Companies In 2015

  4. Chart Advisor

    'Tis The Season For Food And Beverage Stocks

  5. Chart Advisor

    Commodities Set Up For A Continued Move Lower

Trading Center