chitowntrader23

chitowntrader23

This is a quick update to my previous post mentioning ABT showing relative strength within this bullish channel. The channel shown was originally drawn a few weeks before we made this move. It is really fun to see how the once resistance level, has now become it's support while we move to the upside. Current resistance sits at 4.74 - past history does not...

chitowntrader23

ABT is in a powerful channel that has been non-stop breaking new highs. this channel was drawn out a few weeks before this most recent upside move. If we can continue to maintain on the upperside on this channel, it would be very bullish IMO.

chitowntrader23 Updated 

As you can see, we technically set a higher low around 2.37 with the wick of the most recent upside hourly candle. It is critical that we break 2.40 within the next 24 hours, otherwise I fear we will lose some of the bulls who are in this for a quick swing trade. For the record, I am long for over a year now, current average is $.26 =) I believe we can see...

chitowntrader23

ABT has had an incredible upside move, but technically we have set a higher low just now with the wick of that hourly candle. We need to break to the upside and set a new ATH withint the next 24 hours, otherwise we will likely see some more downside. IMHO so please take any of this with a grain of salt. For the record, I am long since $.10-$.26 average =)