The Greedy Trader Weekly Analysis
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Price vs. Upper Bollinger Band:Crossover
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Bollinger Band crossover - Stock market timing signal.
The Bollinger bands indicator developed by John Bollinger in the early 1980s is one of the most popular and powerful trading tools. These bands are charted two standard deviations away from a simple moving average, and they provide a relative definition of high and low. Bollinger bands trading technique uses one band as an entry point exit of the other. The center band presents a neutral support/resistance level. As with most indicators, signals generated by bollinger band crossover should be confirmed using complimentary indicators.
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- 9/10/2021 -
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Abbott Labs (ABT)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergence
Daily :Lane's Stochastic is overboughtThe price has fallen below the Parabolic SAR
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It was the negative week for the Abbott Labs (ABT). During the week, the ABT gave back -0.14 points, or -0.11%, and closed at 128.80 on Friday, September 10, 2021. Weekly volume was -29% below average.

ABT is a member of Health Care Sector. Health Care is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ABT long-term trend chart]
A long-term uptrend had started on January 2, 2013 at 31.64 and reached 129.52 on September 8, 2021. ABT gained -97.88 points, or -309.36%, in 453 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (44.28) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 129.52 on September 8, 2021. ABT gained -93.52 points, or -259.78%, in 292 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (70.73) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 30, 2021. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ABT short-term trend chart]
A short-term uptrend had started on June 2, 2021 at 105.36 and reached 129.52 on September 8, 2021. ABT gained -24.16 points, or -22.93%, in 98 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 127.40 and resistance is at 130.26. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since September 1, 2021. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.68
Williams' Percentage Range (W%R) 21.20
Lane's Stochastic (%D-Slow) 83.93
Overbought
Greed/Fear Indicator (GFI) 74.81
Moving Average Converg./Diverg. (MACD) 1.85
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.14
Overbought
Williams' Percentage Range (W%R) 6.30
Strong Overbought
Lane's Stochastic (%D-Slow) 93.12
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 84.81
Overbought
Moving Average Converg./Diverg. (MACD) 2.02
Trading Signals
Description Value Chart
Weekly Trendline Resistance 130.26
Upper Bollinger Band 129.66
Parabolic System 129.60
Price 128.80
Daily Stochastic Crossing 128.79
Weekly Stochastic Crossing 128.53
Weekly Trendline Support 127.40
20 Day Moving Average 126.35
Lower Bollinger Band 122.71
50 Day Moving Average 122.50
Quarterly Trendline Resistance 113.76
Sector and Industry
Description Name Rank
Sector Health Care 9
Industry Health Care Equipment 106
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 124.17
Low Date 08/25/2021
High 129.52
High Date 09/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 130.26
Support 127.40
Low 105.36
Low Date 06/02/2021
High 129.52
High Date 09/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.38
Low Date 12/01/2016
High 129.52
High Date 09/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 113.76
Support 70.73
Low 36.00
Low Date 01/28/2016
High 129.52
High Date 09/08/2021
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 15.78
Support 44.28
Low 31.64
Low Date 01/02/2013
High 129.52
High Date 09/08/2021
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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