Abbott Labs Breaks Out

Abbott Labs (ABT) has taken out its 2013 highs today. The stock began the session with a powerful gap-higher open following an upgrade by Morgan Stanley. This surge has pushed the stock past heavy supply near the $38.80 area and into new all-time high territory. ABT is fading a bit from its early highs but the bullish action over the last two days has set the stock up well for more upside.

In early October, ABT left behind a major double bottom near the $33 area. By late November, the stock was bumping up against its 52-week highs set in May. The powerful rally off the September/October lows ran out of steam here and by the beginning of December, the stock was fading....164 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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