Abbott: open buy, week 9
Abbott slips 3.6%, but the daily chart confirms its higher lows
Our view last week
Abbott's buy signal has been running for 8 weeks and is up more than 23%. All 3 targets of our most advanced model have already been hit, but the management path continues through week 10. The weekly picture stays bullish, though a few cracks are widening - contracting volume, mixed rejection candles - while the daily chart keeps building higher lows. The healthcare sector is providing a tailwind, but signal strength has faded: the desk recommends managing the trade with discipline.
This week's summary
Abbott closed the week down 3.6%, with sellers back in firm control of the last weekly candle and volume contracting. On the daily chart, though, the sequence of higher lows stays intact, running from the 104 area to the 113 area, with buyers back in control of the tape. Abbott stock remains in a buy signal running for 9 weeks, up 19.5% from entry, with all 3 targets of our most advanced model already hit.
IQS Phase
72
in tension
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#106 / 175
US stocks in progress
Trade P&L %
+19.50%
from signal to date, no stop loss
Rank position
ranks 106th among the 175 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly -1.98% · monthly +2.96%
ABT belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
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