ABB broke the lower boundary of the trend channel. Rebound to the channel possible with target in the marked resistance area
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🎯 About my posts: They are kept self-explanatory in order to avoid overcomplicating and confusion. Mostly price signals and trend analysis combined with chart patterns.
Disclaimer: This is not an...
ABB went sideways in a wedge pattern since 2009 and broke out to the upside in February of 2021. The stock is in a strong upward trend and is showing confirming downward/sideways flag patterns. After the recent breakout to a new all time high (ATH) the strong trend is likely to continue and the stock seems to be going through a fundamental reevaluation by the...
ABB is of interest because fundamental analysis says it could reach SEK 244,-
However, at the moment it doesn't seem to have enough power to break through the overhead resistance just yet.
On the 4h chart we have clear divergence between the price action and the RSI, AND we have declining volume. All indicators of a unsustainable trend. In the process it seems to...
As analysts are giving ABB a target of around 240, I am looking for a buying opportunity.
At the moment ABB might be rejected at the current resistance area around 202-206. This resistance also represents the 0.618 fib retrace of the 'corona dump'. The trendline (blue) is still holding, but if it breaks a retrace is to be expected.
THEN I'll be looking at a buying...
ABBN, the support has hold 4 times already. We are one the 5th time and it seems that buyers are coming.
Validation if we end the week above the support. We will have the answer friday at the closing bell.
