Colligative Properties Lab Answer Key

The technical signals signal the odds of farther weakness in the health care company'south shares are low.

Past BRUCE KAMICH

May 12, 2021 | 08:06 AM EDT

Stocks quotes in this article: ABT

COVID is still very much a role of our lives, Jim Cramer told his "Mad Money" viewers Tuesday night. That means it's important to brand sense of where nosotros are in the pandemic, what threats all the same remain and what the futurity might hold.

Cramer went right to someone on the front lines of the pandemic equally he spoke to Robert Ford, president and CEO of Abbott Laboratories (ABT) , to learn about the latest on testing in America.

Abbott was one of the first to provide testing earlier vaccines became available and it is at present one of the leaders post-vaccine, with rapid COVID testing options. Ford said Abbott'southward goal is to brand rapid testing affordable and attainable to everyone who needs it.

Abbott's rapid test kits are currently bachelor in 20,000 pharmacies across the county and will shortly aggrandize to more than than 30,000 locations as manufacturing and distribution continues to expand.

Permit'southward bank check out the charts of Abbott, which is a holding of Cramer's Activity Alerts PLUS charitable trust. In our review of Abbott on March 26 we wrote, "ABT reached our $125 target in February and possibly some of you took some money off the table. The charts are more mixed at present, so traders should raise stops to $114 on the balance of their position."

In this daily bar chart of ABT, below, nosotros can see that prices have not tested the March low and thus accept not elected our suggested $114 sell stop. ABT is trading beneath the failing 50-twenty-four hours moving boilerplate line merely above the rising 200-day moving average. The On-Residual-Book (OBV) line has declined a lilliputian from its new high for the motion up last calendar month. The recent increase in aggressive selling may exist temporary. The Moving Average Convergence Difference (MACD) oscillator fell below the zero line recently for a new outright sell signal.

In this weekly bar chart of ABT, beneath, we tin can see that prices are in a longer-term uptrend in a higher place the rising forty-calendar week moving average line. The weekly OBV line has been stalled for at least three months, telling us that in that location is more than of a rest betwixt buyers and sellers of ABT. The MACD oscillator is pointed down merely is nevertheless in positive territory to a higher place the zero line.

In this daily Signal and Figure chart of ABT, below, nosotros tin can meet that the software is projecting the $109 area as a potential downside price target. If ABT did decline toward $109 the chart shows enough of potential support, and then the odds of further weakness are low.

In this weekly close-but Indicate and Figure chart of ABT, below, nosotros used a traditional even-dollar scaling. Here the software is projecting the $202 expanse as a tentative longer-term price objective.

Bottom line strategy: The broad market is undergoing a lot of shifts and turns, also called rotation. Shares of ABT might skid a petty during this adjustment menses, but the weekly Signal and Effigy chart suggests we could run across significant gains afterward in 2021. Continue to hold remaining longs. Continue with a finish at $114. Add to longs on force in a higher place $126.

(ABT is a holding in Jim Cramer'due south Action Alerts PLUS member guild . Desire to exist alerted before Jim Cramer buys or sells these stocks? Larn more now . )

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The complete lack of enthusiasm from both equity buyers and selection traders bodes very well for a continued market rally rather than yet some other retest of the lows.

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