ABT uptrend & breakout analyzed
ABT broke out of it multi-year range last week and pulled back this week to retest and re-gather, giving market makers a chance to buy back stock sold short at higher levels. The pullback didn't fully close the gap from the news announcement last Tuesday about ABT splitting into two companies to unlock the value in shares. NOTE: This is the way that companies announce to the world that their stock is cheap and underpriced. Whenever a company decides to split up in order to get lazy investors to wake up to see the value, it is almost always a decent time to begin investing. Upside potential $59-$61, stop loss, $51.50. $53.65 last. Stock futures +2% overnight on EU banking news.
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Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.