Abbott Laboratories Stock Forecast
Green day on Friday for Abbott Laboratories
(Updated on Apr 26, 2024)
The Abbott Laboratories stock price gained 0.627% on the last trading day (Friday, 26th Apr 2024), rising from $106.86 to $107.53. During the last trading day the stock fluctuated 1.38% from a day low at $106.39 to a day high of $107.86. The price has fallen in 6 of the last 10 days and is down by -1.45% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 377 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $365.37 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.39% during the next 3 months and, with a 90% probability hold a price between $97.82 and $109.15 at the end of this 3-month period.
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ABT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.15%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Abbott Laboratories stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $111.66. On a fall, the stock will find some support from the short-term average at $106.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Abbott Laboratories stock
Abbott Laboratories finds support from accumulated volume at $107.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.47 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Abbott Laboratories to open at $107.26, and during the day (based on 14 day Average True Range), to move between $105.52 and $109.54, which gives a possible trading interval of +/-$2.01 (+/-1.87%) up or down from last closing price. If Abbott Laboratories takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $107.28 (0.23%) than the resistance at $111.50 (3.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Abbott Laboratories stock A Buy?
Abbott Laboratories holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.413 Sell Candidate Unchanged
Predicted Opening Price for Abbott Laboratories of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$107.26 ( 0.252%) | $107.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 108.72 | 1.11 % | |
R2 | 108.16 | 0.590 % | ||
R1 | 107.82 | 0.269 % | ||
Current price: | 107.53 | |||
Support | S1 | 106.70 | -0.773 % | |
S2 | 106.35 | -1.09 % | ||
S3 | 105.79 | -1.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 115.49 | 7.40 % | |
R2 | 112.44 | 4.57 % | ||
R1 | 111.50 | 3.69 % | ||
Current price | 107.53 | |||
Support | S1 | 107.28 | -0.232% | |
S2 | 105.90 | -1.52% | ||
S3 | 105.27 | -2.10% |
ABT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 16, 2024 | Apr 12, 2024 | May 15, 2024 | $0.550 | 0.512% |
2 | Dec 15, 2023 | Jan 12, 2024 | Feb 15, 2024 | $0.550 | 0.484% |
3 | Dec 15, 2023 | Jan 11, 2024 | Feb 15, 2024 | $0.550 | 0.484% |
4 | Sep 21, 2023 | Oct 12, 2023 | Nov 15, 2023 | $0.510 | 0.520% |
5 | Jun 09, 2023 | Jul 13, 2023 | Aug 15, 2023 | $0.510 | 0.486% |
FAQ
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