Trading idea for Abbott Laboratories (NYSE)

13.05.2021

Technical reviews

#ABT

The overall trend is upward. The descending wave pattern is truncated. A bullish divergence has formed on Awesome Oscillator, and the moving averages of the Stochastic Oscillator enter the oversold zone.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop loss under the local minimum of the descending structure.

Target levels: 124.60; 128.20.

Author: GC
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