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Abbott Laboratories receives U.S. FDA authorization for Libre Duo system as stock edges lower

Abbott Laboratories receives U.S. FDA authorization for Libre Duo system as stock edges lower
Abbott Laboratories stock edges lower today

Abbott Laboratories has received U.S. FDA authorization for its Libre Duo 10 Day system, a first-of-its-kind, two-in-one biowearable designed for people living with diabetes. The stock edges lower on the day, trading at $116.16.

ABT price prediction
24H 0.42%
$106.65
48H 0.7%
$106.94
7D 0.33%
$106.55
1M 1%
$107.26
3M 1.28%
$107.56
6M -16.51%
$88.67
12M -21.15%
$83.74
Detailed
Current price: $106.2 1.64 1.56%
Closed 10/30
Daily range 105.41 Arrow from to Icon 106.73
Weekly range 101.70 Arrow from to Icon 106.73
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Highlights

  • Abbott Laboratories received FDA authorization for its Libre Duo 10 Day biowearable system for diabetes management.
  • Abbott Laboratories stock edges lower on the day, trading at $116.16.
  • 81 of 109 analysts rate Abbott Laboratories stock a buy, with a recent UBS price target of $125.

Abbott Laboratories has received U.S. FDA authorization for its Libre Duo 10 Day system, according to a post shared by AbbottNews. The Libre Duo 10 Day system is described as a first-of-its-kind, two-in-one biowearable. The post also points out that diabetic ketoacidosis is a serious health risk for people living with diabetes that can rapidly require hospitalization.

Bullish structure holds as gap down signals limited upside near resistance

A gap down at the open from $116.67 to $116.17 defines the session. Shares of Abbott Laboratories continue to trade above their MA-20, MA-50, and MA-200, maintaining a bullish daily structure even as the move runs counter to recent strength. The weekly high at $117.34 acts as the nearest resistance. RSI is elevated at 77.8, indicating stretched conditions that limit room for further upside.

Upside odds dominate as traders gauge reaction to weekly high

To gauge whether the recent move will gain traction, traders should monitor price action near the weekly high at $117.34. The session began with a gap down, opening at $116.17 compared with the prior close of $116.67. Even so, while the past week showed a sustained move lower with a firm trend, upside probability stands at 78% and downside at 22% for the coming trading week, with an expected range between $114.17 and $118.14. A close above $117.34 would confirm buyers are taking control, whereas a drop below $112.91 would suggest sellers are regaining momentum. On the weekly chart the longer-term picture stays constructive.

Earlier, analysts noted that Abbott Laboratories' shares remained technically strong, though overbought signals pointed to the risk of near-term consolidation. The current FDA authorization of the Libre Duo 10 Day system adds a new dimension to the story, and traders should watch for confirmation of direction if price breaks above $117.34 or falls below $112.91 in coming sessions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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