Abbott Laboratories engages in the discovery, development, manufacture,
and sale of health care products worldwide. The company offers adult and
pediatric pharmaceuticals for rheumatoid and psoriatic arthritis,
ankylosing spondylitis, psoriasis, juvenile idiopathic arthritis, and
Crohns disease; dyslipidemia; HIV infection; prostate cancer,
endometriosis and central precocious puberty, and anemia caused by
uterine fibroids. It also offers diagnostic systems and tests, such as
immunoassay and clinical chemistry systems; assays for screening and/or
diagnosis for drugs of abuse, cancer, therapeutic drug monitoring,
fertility, and physiological and infectious diseases; instruments that
automate the extraction, purification, and preparation of DNA and RNA
from patient samples, and detects and measures infectious agents;
genomic-based tests; hematology systems and reagents; and diagnostic
systems and tests for blood analysis. In addition, the company provides
coronary, endovascular, vessel closure, and structural heart devices,
such as drug-eluting stent systems, coronary metallic stents, balloon
dilatation products, coronary guidewires, carotid stent systems, valve
repair systems, and drug-eluting bioresorbable vascular products.
Please take a look at the 1 yr. chart of ABT (Abbott Laboratories) that I have shown below with my added notations:
ABT has formed a nice up-trending channel over the last (9) months. A
channel is simply formed through the combination of a trend line support
that runs parallel to a trend line resistance. When it comes to a
channel, I always tell my students that any (3) points can start the
channel, but it's the 4th test and beyond that confirm it. You can see
that ABT has multiple test points between the channel resistance (red)
and channel support (blue). Following the ABT Channel can provide you
with both long and short trading opportunities.
Sometimes the political and economic streams converge to determine the agenda.
Jim
welcomes back technician Ron Griess, founder of The Chart Store. Ron
and Jim discuss some of Ron’s charts that illustrate that US debt is not
contracting, but in fact total credit market debt in the US is still
growing, reaching a new record high of $55 trillion in the second
quarter of 2012. Conversely, household net worth peaked in 2007 and
household real estate values are down 25.8% since the peak in Q4 of
2006. Also in this segment, Ryan Puplava has this week’s Market Wrap-up
and Rob Bernard looks at the credit markets in the Fixed Income Report.
Click Here to Listen to the Audio
