Abbott Laboratories Stock Forecast

Red day on Thursday for Abbott Laboratories stock after losing 0.595%
(Updated on Apr 18, 2024)

ABT Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $108.71 and $113.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -12.97%. Further fall is indicated until a new bottom pivot has been found. 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

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 $2.56 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 2.50%.

Abbott Laboratories is oversold on RSI14 (23). 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 (ABT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Abbott Laboratories to open at $105.59, and during the day (based on 14 day Average True Range), to move between $103.04 and $107.50, which gives a possible trading interval of +/-$2.23 (+/-2.12%) up or down from last closing price. If Abbott Laboratories takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $111.50, some $6.23 (5.92%) from the current price of $105.27, 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 wide and 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: -4.121 Sell Candidate Unchanged

Predicted Opening Price for Abbott Laboratories of Friday, April 19, 2024

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