ABBOTT LABORATORIES - 1H - Technical analysis published on 04/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 113.51 USD
My targets
106.35 USD (-2.46%)
103.29 USD (-5.26%)
My analysis
The bearish trend is currently very strong for ABBOTT LABORATORIES. As long as the price remains below the resistance at 113.51 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 106.35 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 103.29 USD as an objective. Crossing it would then enable sellers to target 99.27 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.1
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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 rating is 109.03 USD. The price registered a decrease of -0.07% on the session and was traded between 108.83 USD and 110.89 USD over the period. The price is currently at +0.18% from its lowest and -1.68% from its highest.108.83
110.89
109.03
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of ABBOTT LABORATORIES indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 94.63 | 99.27 | 103.29 | 109.03 | 109.47 | 113.51 | 118.45 |
| Change (%) | -13.21% | -8.95% | -5.26% | - | +0.40% | +4.11% | +8.64% |
| Change | -14.40 | -9.76 | -5.74 | - | +0.44 | +4.48 | +9.42 |
| Level | Minor | Major | Intermediate | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 106.22 | 107.36 | 108.23 | 109.37 | 110.24 | 111.38 | 112.25 |
| Camarilla | 108.56 | 108.74 | 108.93 | 109.11 | 109.29 | 109.48 | 109.66 |
| Woodie | 106.10 | 107.29 | 108.11 | 109.30 | 110.12 | 111.31 | 112.13 |
| Fibonacci | 107.36 | 108.12 | 108.60 | 109.37 | 110.13 | 110.61 | 111.38 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 104.21 | 106.35 | 107.73 | 109.87 | 111.25 | 113.39 | 114.77 |
| Camarilla | 108.14 | 108.47 | 108.79 | 109.11 | 109.43 | 109.76 | 110.08 |
| Woodie | 103.83 | 106.16 | 107.35 | 109.68 | 110.87 | 113.20 | 114.39 |
| Fibonacci | 106.35 | 107.70 | 108.53 | 109.87 | 111.22 | 112.05 | 113.39 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 94.96 | 101.77 | 107.43 | 114.24 | 119.90 | 126.71 | 132.37 |
| Camarilla | 109.67 | 110.81 | 111.96 | 113.10 | 114.24 | 115.39 | 116.53 |
| Woodie | 94.40 | 101.48 | 106.87 | 113.95 | 119.34 | 126.42 | 131.81 |
| Fibonacci | 101.77 | 106.53 | 109.47 | 114.24 | 119.00 | 121.94 | 126.71 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.84 | |
| MACD (12,26,9): | -0.2800 | |
| Directional Movement: | -5.56 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 109.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 108.76 | |
| Elder Ray (13): | -0.59 | |
| Super Trend (3,10): | 108.38 | |
| Zig ZAG (10): | 108.91 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 25.08 | |
| TEMA (21): | 109.28 | |
| Williams %R (14): | -80.83 | |
| Chande Momentum Oscillator (20): | -0.80 | |
| Repulse (5,40,3): | -0.5600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 1.54 |
| MA7: | 110.32 | |
| MA20: | 110.91 | |
| MA50: | 114.07 | |
| MA100: | 111.07 | |
| MAexp7: | 109.47 | |
| MAexp20: | 109.76 | |
| MAexp50: | 110.20 | |
| MAexp100: | 110.97 | |
| Price / MA7: | -1.17% | |
| Price / MA20: | -1.70% | |
| Price / MA50: | -4.42% | |
| Price / MA100: | -1.84% | |
| Price / MAexp7: | -0.40% | |
| Price / MAexp20: | -0.67% | |
| Price / MAexp50: | -1.06% | |
| Price / MAexp100: | -1.75% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on ABBOTT LABORATORIES. At the time of publication of this analysis, the latest news was as follows:
-
Gov. Abbott: Biden is doing ‘nothing’ to stop terrorists from crossing the border
- Abbott Receives FDA Approval for TriClip™, First-of-Its-Kind Device to Repair Leaky Tricuspid Heart Valve
- Abbott Receives FDA Clearance for Whole Blood Rapid Test to Help with Assessment of Concussion at the Patient's Bedside
- Abbott Hosts Conference Call for First-Quarter Earnings
-
BREAKING: Police investigate Tory donor Frank Hester's alleged racist comments about Diane Abbott
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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