Yo I haven't seen this type of chart in a whileeeee! Hella rare, but using my MA strategy, I call it the "Surfer Stall" lol. 55 low MA surge on top of 180 WMA where price tends to re-trace before taking the FUCK off. Just came across this one going over some intra-day scans to find setups, A+ setup & out of each chart I screenshot (regardless of if I post or not)...
Its currently in the middle of the channel; I see it hitting the bottom and bouncing off upwards
- Broke through resistance - Back testing on support If there's an upward movement after the back test it could make a nice move
ABT: abbott laboratories 2018-07-12 09:00:13 Detected possible FDA approval
Bearish Shark with bearish divergence. Purchased the July 62.5 puts @ 1.25
ABT's robust pipeline confirms positive earning for the quarter. On the Technical aspect we can observe a monthly divergence. Also if we move to the 4 Hour Chart we can look the break of the short trend and moving back up again .
Some nice consolidation even on the rough down days as of late. With a few more days, could be a C&H
Bearish Gartley with bearish divergence. Notice how price reacts to the potential reversal zone, this makes the pattern much more valid. Measurements - .786XA - 1.618BC - AB=CD
We expect new peaks, after the consolidation of the price near the local level (blue bar). Similarly, the position will be transferred to the breakeven at that moment, as the price may turn from it and go for a deeper correction. P/E 61.27 Forward P/E 19.81 Open 61.53 SL 60.13 TP 67.13 Ratio of risk to profit 1: 4 Good Luck!
$ABT is a bit of a stretch for an analyst's reccom for a long position. Would've thrown a pitchfork in to show the extremities of a re-trace but I'm sure you can use your imagination for a bullish gartley once 61% - 127% fib re-trace is done with.