Stock Technical indicators to notice in ABBOTT LABORATORIES (ABT.SW)
1- Last bullish trend was from 50.00 $ (4/30/2012) to 55.50 $ (5/3/2012) a 5.50 $ move 2- The current bearish trend started from 55.50 $ at 5/3/2012 and is currently trading at 50.00 $.
4- ABT.SW current resistance level is at 50.00 which is the 100.00 % fibonacci retracement of the last 5.50 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
ABBOTT LABORATORIES (ABT.SW) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bearish stock channel identifed by support at 50.000 and 52.350,resistance between 55.500 and 56.500, the stock channel is currently supported from below by 48.433 and resisted from above by 54.833.
ABBOTT LABORATORIES (ABT.SW) Mid term stock chart patterns for internet stock trading :
7- The Stock formed Double Bottom Pattern at 50.000 .
8- The Stock formed a 6.500 $ height triangle.
ABBOTT LABORATORIES (ABT.SW) Long term stock chart patterns for internet stock trading :
9- The Stock formed Double Bottom Pattern at 50.000 .
10- The Stock formed a 6.500 $ height triangle.
Stock Trading Conclusion:
ABBOTT LABORATORIES (ABT.SW) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 51.30, 52.10, 52.75, 53.40, 54.20, 55.50,.
Stock Support levels : 48.55, 48.50,.
