The Greedy Trader Weekly Analysis
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Abbott Labs (ABT)

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Summary:
Weekly :Broken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is near the Fibonacci 61.8% retracement levelThe period of low volatility of the stock price
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It was a second consecutive positive week for the Abbott Labs (ABT). During the week, the ABT gained 2.12 points, or 1.94%, and closed at 111.61 on Friday, January 8, 2021. It was the best weekly gain since November 6, 2020. Weekly volume was -25% below average.

Long-term trend: [See ABT long-term trend chart]
A long-term uptrend had started on January 2, 2013 at 31.64 and reached 115.14 on November 6, 2020. ABT gained -83.50 points, or -263.91%, in 409 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (43.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ABT medium-term trend chart]
A medium-term uptrend had started on January 28, 2016 at 36.00 and reached 115.14 on November 6, 2020. ABT gained -79.14 points, or -219.83%, in 249 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (44.06) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ABT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 20, 2020. Use the following link to access a MACD help.

Short-term trend: [See ABT short-term trend chart]
A short-term downtrend had started on November 6, 2020 at 115.14 and reached 105.32 on December 11, 2020. ABT lost 9.82 points, or 8.53%, in 35 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since December 16, 2020.

The distance between the Bollinger Bands is falling, and it was 5.02% on Friday. It is 55.78% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.25
Williams' Percentage Range (W%R) 12.20
Overbought
Lane's Stochastic (%D-Slow) 83.78
Overbought
Greed/Fear Indicator (GFI) 79.29
Moving Average Converg./Diverg. (MACD) 0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.37
Williams' Percentage Range (W%R) 22.50
Lane's Stochastic (%D-Slow) 42.19
Greed/Fear Indicator (GFI) 57.38
Moving Average Converg./Diverg. (MACD) 4.12
Trading Signals
Description Value Chart
Upper Bollinger Band 111.95
Daily Stochastic Crossing 111.79
Price 111.61
Weekly Stochastic Crossing 109.45
50 Day Moving Average 109.05
20 Day Moving Average 108.60
Parabolic System 108.31
Lower Bollinger Band 106.36
Quarterly Trendline Resistance 105.00
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Equipment 64
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 115.14
High Date 11/06/2020
Low 105.32
Low Date 12/11/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.61
Low Date 03/23/2020
High 115.14
High Date 11/06/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.38
Low Date 12/01/2016
High 115.14
High Date 11/06/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 105.00
Support 44.06
Low 36.00
Low Date 01/28/2016
High 115.14
High Date 11/06/2020
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 19.73
Support 43.30
Low 31.64
Low Date 01/02/2013
High 115.14
High Date 11/06/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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