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Shares of Abbott Labs Has Fallen Below Previous 52-Week Low

By David Diaz

Abbott Labs (NYSE:ABT) traded at a new 52-week low today of $65.10. Approximately 745,000 shares have changed hands today, as compared to an average 30-day volume of 8.2 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.

In the past 52 weeks, Abbott Labs share prices have been bracketed by a current low of $65.10 and a high of $92.45 and are now at $65.40. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has remained constant.

Potential upside of 4.2% exists for Abbott Labs, based on a current level of $65.40 and analysts' average consensus price target of $68.13. The stock should find initial resistance at its 200-day moving average (MA) of $84.34 and further resistance at its 50-day MA of $84.57.

SmarTrend recommended that its subscribers protect gains by selling shares of Abbott Labs on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $85.36. Since that call, shares of Abbott Labs have fallen 20.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows abbott labs

Ticker(s): ABT