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S&P 500 Overbought StocksArchive
- 1/3/2025 -
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Abbott Labs (ABT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Abbott Labs (ABT). During the week, the ABT dropped -1.20 points, or -1.04%, and closed at 113.80 on Friday, January 3, 2025. Weekly volume was -32% below average.
ABT is a member of Health Care Sector. Health Care is the second most oversold 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 October 12, 2023 at 89.67 and reached 121.63 on March 8, 2024. ABT gained -31.96 points, or -35.64%, in 21 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 105.86 and resistance is at 120.85. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a long-term trend.
 Medium-term trend: [See ABT medium-term trend chart]
A medium-term downtrend had started on November 6, 2024 at 121.00 and reached 111.30 on December 19, 2024. ABT lost 9.70 points, or 8.02%, in 6 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See ABT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 6, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 December 27, 2024 at 116.00 and reached 112.50 on December 30, 2024. ABT lost 3.50 points, or 3.02%, in 3 days. Price is near the Fibonacci 38.2% retracement level.
Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since December 24, 2024. The distance between MACD and the signal line is low and getting smaller.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.73%) is close to one year low (3.65%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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