ABT Abbott Labs Med Tech Short Setting Up

2023년 4월 29일

ABT is shown on a 4H chart as setting up for a short trade.

Demand and Summply Zones are charted by the LuxAlgo indicator.

Price touched the supply zone five times in December- January then

descended and touched the demand zone several times in

mid-March.

Fundamentally, earnings reports have been solid. Medical stocks

are generally independent of the economy and recession resilient.

ABT has risen off the base of bottoms at support . Relative volume

exceeds that of the past year showing investor/trader interest

has increased. I think it will progress to

touch the supply / resistance zone another once or twice

and then reverse into a solid downtrend. I see this as worth watching

this upcoming week for the reversal.