Score 9.5 (out of 10): ABBOTT LABORATORIES sets up for +7.8% rally in 2 months

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What’s Going On Here?

ABBOTT LAB’s CEO expects strong COVID-19 testing demand in the near term. While testing demand will eventually dwindle as the current wave tops out, there will be a portion that is sustained, he said.

Why Now?

ABBOTT LABORATORIES has triggered a new technical analysis signal. During similar occasions, ABBOTT LABORATORIES shares had a median return of +7.8%, over the following 2 months – based on 9 historical occasions with 9 of those showing positive returns (100%). This buy signal for ABBOTT LABORATORIES received a high score of 9.5 (out of 10). This insight was generated on 2022- January-18 with last price of 126.05.

What’s This Company About?

ABBOTT LABORATORIES is in the Medical Products business. Based on the last 2 years’ risk/return profile, this asset is seen as Moderate Risk. Ticker symbol: ABT US.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 135.91 (+7.8%) has been reached. Based on ABBOTT LABORATORIES’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 123.55 (last price at 126.05), which is equivalent to a -2% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

7.8% (September-2021), 5.4% (July-2021), 2% (May-2021), 11.1% (February- 2020), 4.8% (December-2019), 3.3% (October-2019), 14.5% (April-2019), 11.7% (December-2018), 9.7% (April-2018).

Historical Chart:

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Summary:

NameABBOTT LABORATORIES
ViewUp
Star (1 to 10)9.5
Target+7.8%
Time2 months
Hit Rate100%

Popular Insights:

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