Abbott Laboratories new strong impulse breaking all time high

Abbott Laboratories stock analysis. The pharmaceutical company discovers, develops, manufactures, and sells healthcare products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for treating pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasms.

The long-term bias on Abbott Laboratories (NYSE: ABT) American stock is bullish. New bullish impulses and demand levels are being created. We can see some strong weekly impulses at #1 and #2, around $82 and $70 per share. As a beginner swing trader and even an experienced swing trader, you should be looking for strong impulses to stand out in the charts, like those you can see in the technical analysis for Abbott Laboratories. This will help you locate potential trades using supply and demand imbalances.

ABT stock strong rally

There is a long bias on Abbott Laboratories (NYSE: ABT), expecting the price to drop to #2 and potentially #1 at the bottom, where longs will be possible again. See Abbott Laboratories (NYSE: ABT) pharmaceutical company technical analysis and forecast for the weekly timeframe below. You can see the price area and levels being discussed in this analysis. Similar price action can be seen on other stocks from the pharmaceutical sector and industries, as well as biotechnology stocks.

Abbott Laboratories new strong impulse ATH
Abbott Laboratories new strong impulse ATH

Trading supply and demand imbalances is ideal for beginners and those with a full or half-time job. You won’t need to stay in front of the computer all day long trying to move price action with your mind.

Abbott Laboratories (NYSE: ABT) video analysis

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings, then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.

Unless you are doing very short-term trading and scalping, you should not worry about fundamentals or earnings announcements on Abbott Laboratories.

Abbott share supply and demand analysis

You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name, and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.

Click here to learn to trade stocks using our supply and demand trading strategy.

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