Abbott Laboratories stock price forecast: $98.63 resistance limits further upside as ABT gains 3.16%

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Abbott Laboratories jumps 3.16% to $95.08

Highlights

ABT/USD exhibits short- and medium-term bullish momentum, with price action holding near session highs after a 3.16% surge.
Momentum indicators signal strong buyer dominance, though multiple overbought readings suggest heightened risk of a near-term pullback.
Price is expected to trade between $93.05 and $98.63, with continued upside likely unless support at $93.06 breaks.

Overbought signals emerge as technicals reinforce bullish setup

On the technical front, ABT is trading above its MA-20 ($92.56) and MA-50 ($92.7) on the hourly chart, but remains below the daily MA-200 at $112.01. The Ichimoku Kijun at $93.06 serves as immediate support. Relative Strength Index (RSI) is elevated at 65.88, with Stochastic RSI, Commodity Channel Index (CCI), and Bull/Bear Power all flagging overbought conditions, indicating buyer dominance intraday. Meanwhile, the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both signal a continuing buy setup, while the Awesome Oscillator is currently neutral and does not confirm the prevailing momentum.

Continued rally favored unless support breach triggers reversal risk

Over the next several sessions, the expected trading range for ABT is $93.05 to $98.63. There is a 78% probability of continued upside, while the downside probability stands at 22%. Should the price consolidate, ABT may trade sideways within this corridor. A breakout above $98.63 could extend the rally further, while a close below the $93.06 support would likely increase retracement risk.

Anton Kharitonov, expert at Traders Union, sees strong technical momentum in Abbott Laboratories (ABT) after today's sharp move. He notes that overbought signals dominate, but the stock holds above its short-term supports. The absence of fresh news means traders are driving the action, not fundamentals. "Until ABT breaks above $98.63 or loses $93.06, I remain cautious and prefer to wait for clearer signals."

Earlier, analysts noted that bullish momentum in Abbott Laboratories was expected to persist, supported by positive technical signals and institutional interest. The latest intraday data reinforce this outlook, suggesting that traders should focus on the $93.06 support and $98.63 resistance as pivotal levels for any breakout or retracement in the sessions ahead.

Source of Data: ABT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.