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Abbott Laboratories Rises 1.71% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Abbott Laboratories (NYSE:ABT) traded in a range yesterday that spanned from a low of $48.15 to a high of $49.10. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $48.38 on volume of 3.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Abbott Laboratories on May 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.58. Since that recommendation, shares of Abbott Laboratories have risen 8.1%. We continue to monitor ABT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Abbott Laboratories share prices have moved between a 52-week high of $51.74 and a 52-week low of $36.00 and are now trading 36% above that low price at $49.01 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

Keywords: rebounders Abbott Laboratories

Ticker(s): ABT