Abbott Laboratories Stock Forecast

Abbott Laboratories stock price ended at 95.22€ on Monday, after losing 0.668%.
(Updated on May 20, 2024)

ABL.F Signals & Forecast

There are few to no technical positive signals at the moment. The Abbott Laboratories stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 96.37€ and 99.88€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Abbott Laboratories gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Abbott Laboratories stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 1.23€ between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.15%.

Abbott Laboratories is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ABL.F) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Abbott Laboratories to open at 95.62€, and during the day (based on 14 day Average True Range), to move between 93.97€ and 96.47€, which gives a possible trading interval of +/-1.25€ (+/-1.31%) up or down from last closing price. If Abbott Laboratories takes out the full calculated possible swing range there will be an estimated 2.63% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ 98.46€, some 3.24€ (3.40%) from the current price of 95.22€, our system finds the risk reward not very attractive.

Is Abbott Laboratories stock A Buy?

Abbott Laboratories holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.522 Sell Candidate Unchanged

Predicted Opening Price for Abbott Laboratories of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.