ABBOTT LABORATORIES - Daily - Technical analysis published on 08/29/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 107.05 USD
My targets
117.27 USD (+3.95%)
119.57 USD (+5.99%)
My analysis
The bullish trend is currently very strong on ABBOTT LABORATORIES. As long as the price remains above the support at 107.05 USD, you could try to benefit from the boom. The first bullish objective is located at 117.27 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 119.57 USD as an objective. Crossing it would then enable buyers to target 123.18 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ABBOTT LABORATORIES price is 112.81 USD. The price registered a decrease of -0.08% on the session and was traded between 112.55 USD and 113.50 USD over the period. The price is currently at +0.23% from its lowest and -0.61% from its highest.112.55
113.50
112.81
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of ABBOTT LABORATORIES indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 104.72 | 107.05 | 111.31 | 112.81 | 112.98 | 117.27 | 119.57 |
| Change (%) | -7.17% | -5.11% | -1.33% | - | +0.15% | +3.95% | +5.99% |
| Change | -8.09 | -5.76 | -1.50 | - | +0.17 | +4.46 | +6.76 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 111.32 | 111.85 | 112.37 | 112.90 | 113.42 | 113.95 | 114.47 |
| Camarilla | 112.61 | 112.71 | 112.80 | 112.90 | 113.00 | 113.09 | 113.19 |
| Woodie | 111.33 | 111.85 | 112.38 | 112.90 | 113.43 | 113.95 | 114.48 |
| Fibonacci | 111.85 | 112.25 | 112.50 | 112.90 | 113.30 | 113.55 | 113.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 108.64 | 109.48 | 111.09 | 111.93 | 113.54 | 114.38 | 115.99 |
| Camarilla | 112.02 | 112.24 | 112.47 | 112.69 | 112.92 | 113.14 | 113.36 |
| Woodie | 109.02 | 109.67 | 111.47 | 112.12 | 113.92 | 114.57 | 116.37 |
| Fibonacci | 109.48 | 110.42 | 111.00 | 111.93 | 112.87 | 113.45 | 114.38 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 91.86 | 95.79 | 100.86 | 104.79 | 109.86 | 113.79 | 118.86 |
| Camarilla | 103.47 | 104.29 | 105.12 | 105.94 | 106.77 | 107.59 | 108.42 |
| Woodie | 92.44 | 96.08 | 101.44 | 105.08 | 110.44 | 114.08 | 119.44 |
| Fibonacci | 95.79 | 99.23 | 101.35 | 104.79 | 108.23 | 110.35 | 113.79 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.48 | |
| MACD (12,26,9): | 1.8000 | |
| Directional Movement: | 16.83 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 113.01 | |
| Parabolic SAR (0,02-0,02-0,2): | 109.27 | |
| Elder Ray (13): | 1.45 | |
| Super Trend (3,10): | 108.41 | |
| Zig ZAG (10): | 112.69 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 92.13 | |
| TEMA (21): | 113.61 | |
| Williams %R (14): | -12.83 | |
| Chande Momentum Oscillator (20): | 4.46 | |
| Repulse (5,40,3): | -0.2600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2400 | |
| Courbe Coppock: | 6.17 |
| MA7: | 112.52 | |
| MA20: | 110.79 | |
| MA50: | 106.73 | |
| MA100: | 105.83 | |
| MAexp7: | 112.40 | |
| MAexp20: | 110.62 | |
| MAexp50: | 108.16 | |
| MAexp100: | 107.13 | |
| Price / MA7: | +0.26% | |
| Price / MA20: | +1.82% | |
| Price / MA50: | +5.70% | |
| Price / MA100: | +6.60% | |
| Price / MAexp7: | +0.36% | |
| Price / MAexp20: | +1.98% | |
| Price / MAexp50: | +4.30% | |
| Price / MAexp100: | +5.30% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The last news published on ABBOTT LABORATORIES at the time of the generation of this analysis was as follows:
-
Greg Abbott: The Biden admin has had three and a half years to fix the border
- Abbott Scholars Ready To Join the Fight Against Diabetes
- Abbott Enters Global Partnership to Connect Its World-Leading Continuous Glucose Monitoring System with Medtronic's Insulin Delivery Devices
- What Happens When Communities Unite To Fight Diabetes?
- Cadrenal Therapeutics and Abbott Initiate Collaborative Effort to Advance Novel Anticoagulant Tecarfarin for Patients with LVADs
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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