Abbott Laboratories Stock Forecast

Abbott Laboratories stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)

ABT Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.617%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $106.68 and $110.04. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Abbott Laboratories stock

Abbott Laboratories finds support from accumulated volume at $105.90 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 $1.51 (1.44%) between high and low. For the last week, the stock has had daily average volatility of 1.28%.

Our recommended stop-loss: $99.38 (-6.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (ABT) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Abbott Laboratories to open at $105.91, and during the day (based on 14 day Average True Range), to move between $104.06 and $107.78, which gives a possible trading interval of +/-$1.86 (+/-1.76%) up or down from last closing price. If Abbott Laboratories takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $105.90 (0.02%) than the resistance at $111.50 (5.27%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.421 Hold/Accumulate Upgraded

Predicted Opening Price for Abbott Laboratories of Friday, May 3, 2024

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