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Abbott Labs (ABT) Breaks Through Resistance at $80.23

By Nick Russo

Abbott Labs (NYSE:ABT) has opened bullishly above the pivot of $79.21 today and has reached the first level of resistance at $80.23. Analysts will be watching for a cross of the next upside pivot targets of $81.02 and $82.83.

Over the past year, Abbott Labs has traded in a range of $61.61 to $92.45 and is now at $80.12, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

Based on a current price of $80.12, Abbott Labs is currently 15.0% above its average consensus analyst price target of $68.13. Abbott Labs shares should first meet resistance at the 50-day moving average (MA) of $81.93 and find additional resistance at the 200-day MA of $83.98.

SmarTrend is monitoring the recent change of momentum in Abbott Labs. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Abbott Labs in search of a potential trend change.

Keywords: pivot alerts abbott labs

Ticker(s): ABT