UK Stock Trading Signals | BUY call for Abott Labs

Market Overview:-

US equity market closed the session on a positive note on Monday with all major sectors ending in solid gains. The Dow Jones industrial average gained 263 points or 1.49% to close at 17976, the NASDAQ Composite index gained 56 points or 1.14% to close the day at 4947 and the S&P 500 index gained 25 points or 1.21% to end the session at 2086. CB Consumer Confidence data is due on Tuesday, which is expected to come positive for the economy to help support the bulls in the market.

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ABOTT LABS: BUY call for Today

Recommendation Buy Above $48.00

Target:- $50.50

STOCK SUMMARY:-

Abott Labs is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $48.00 which is a near term resistance level for the stock and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $50.50.

CHART FORMATION:-

Stock is in bullish trend for near term and price is taking support above the trend line on daily chart. Near term breach of major resistance level of $48.00 is expected which would trigger further bullish sentiment in the stock to test the levels of $50.50.

INDICATORS:-

RSI is trading with positive bias and is sustaining above the level of 50. 

In MACD, signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.

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