it didn't trigger short, we analyze by stocks by patterns and
technical analysis, not by news. ABT bounced off the
trendline support we drew, it has to break that in order to trigger
short. Or one could have went long at support. The
trendline is the breakpoint, it was held
ABT is currently a short setup - it may not trigger if you are
correct about the health care bill positively impacting the
company. For now, the stock has made a lower high and may be
forming a HS topping formation. Now we'll have to see if it breaks
support and forms a lower low. The previous low was at 52.67
back in early February.
Recently, the stock has come under pressure (see red candles on
high volume) but has yet to break down through support.
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Trade Idea Short ABT
Posted by steve on 21st of Mar 2010 at 10:31 pm
http://stockcharts.com/h-sc/ui?s=ABT&p=D&yr=0&mn=11&dy=0&id=p39937909294&a=194724730&listNum=59
This is listed on the watchlist since it would be considered an appropriate candidate for more that a day trade.
Title: Confused Woudln't the Health Care
Posted by panaspor on 22nd of Mar 2010 at 10:06 am
Woudln't the Health Care Pass actually be bullish for this stock?
it didn't trigger short, we
Posted by matt on 22nd of Mar 2010 at 10:22 am
it didn't trigger short, we analyze by stocks by patterns and technical analysis, not by news. ABT bounced off the trendline support we drew, it has to break that in order to trigger short. Or one could have went long at support. The trendline is the breakpoint, it was held
ABT is currently a short
Posted by steve on 22nd of Mar 2010 at 10:17 am
ABT is currently a short setup - it may not trigger if you are correct about the health care bill positively impacting the company. For now, the stock has made a lower high and may be forming a HS topping formation. Now we'll have to see if it breaks support and forms a lower low. The previous low was at 52.67 back in early February.
Recently, the stock has come under pressure (see red candles on high volume) but has yet to break down through support.