ABT Labs; perfect long-term investmentHello Traders!
Abbott Labs had been on a clear and strong uptrend for quite some time before the crisis in March/April. But now that it has recovered and broken out of the short-term downtrend bullishly, the MACD has moved away from the 9 EMA and the RSI is a good bit away from overbought, it is very likely that the price will regain its previous upward momentum and the 50 SMA will take up its role as strong support again.
This is a picture-perfect longterm investment! Don't waste this opportunity!
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Please, maintain proper position sizing and risk management!
ABT trade ideas
$ABt Abbott Labs Upside Targets
Long term Bull-Flag break imminent.
Will be looking for volume increase.
Stop loss below $91.00
Upside targets as per horizontal resistance levels short term.
Longer term this could be the start of a huge move, news flow dependent
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Uptrend falling wedge for possible bullish continuationI entered a little earlier @ 90.24 per my strategy prior of getting breakout confirmation from the falling wedge. Great support below, already hugging the trend line with possible bull continuation. Price action has touched top and bottom of the wedge 3 times on each side.
You can jump in today depending on what happens. If it continues to the bull side, I recommend entering and putting SL under the support line.