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Shares of Abbott Labs Has Risen Above Previous 52-Week High

By James Quinn

Shares of Abbott Labs (NYSE:ABT) traded today at $71.50, breaking its 52-week high. This new high was reached on below average trading volume as 2.1 million shares traded hands, while the average 30-day volume is approximately 4.3 million shares.

Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.

Based on a current price of $71.27, Abbott Labs is currently 4.4% above its average consensus analyst price target of $68.13. Abbott Labs shares have support at the 50-day moving average (MA) of $65.55 and additional support at the 200-day MA of $61.41.

Over the past year, Abbott Labs has traded in a range of $51.37 to $71.50 and is now at $71.27, 39% above that low. The 200-day and 50-day moving averages have moved 0.53% higher and 0.91% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Abbott Labs on May 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.78. Since that recommendation, shares of Abbott Labs have risen 11.8%. We continue to monitor ABT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows abbott labs

Ticker(s): ABT