Abbott Labs (ABT) Offering Possible 13.9% Return Over the Next 15 Calendar Days

Abbott Labs's most recent trend suggests a bullish bias. One trading opportunity on Abbott Labs is a Bull Put Spread using a strike $105.00 short put and a strike $100.00 long put offers a potential 13.9% return on risk over the next 15 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $105.00 by expiration. The full premium credit of $0.61 would be kept by the premium seller. The risk of $4.39 would be incurred if the stock dropped below the $100.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Abbott Labs is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Abbott Labs is bullish.

The RSI indicator is at 64.33 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Abbott Labs

Trump administration sending rapid COVID tests to states, CDC bars evictions
Wed, 02 Sep 2020 01:34:29 +0000
The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders. The moves came as The U.S. Centers for Disease Control and Prevention on Tuesday issued a sweeping order temporarily halting landlords across the nation from evicting millions of tenants in what it said was an effort to reduce the spread of coronavirus. The order covers all 43 million U.S. residential renters as long as they meet income eligibility requirements, although an administration official said the government does not expect an “overwhelming” use of the program.

Here’s what to know about Abbott’s 15-minute COVID-19 test
Tue, 01 Sep 2020 17:47:00 +0000
On Aug. 26, the Food and Drug Administration granted an Emergency Use Authorization to a new rapid antigen test for COVID-19 called the BinaxNOW test. Testing is one of the most powerful tools available to fight the spread of COVID-19. It will massively scale up access to testing, but hurdles remain in achieving widespread, frequent COVID-19 testing.

In Canada, airlines face uphill climb to replace quarantines with COVID-19 testing
Tue, 01 Sep 2020 16:30:03 +0000
Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said. The airline-led talks come as Air Canada and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. The use of airport testing to reduce or eliminate Canada's strict two-week self quarantine rule would be logistically challenging as it would require cooperation from airports, airlines, federal and provincial health authorities, the sources said.

U.S. to send millions of rapid COVID-19 tests to states to support school reopening, other tasks
Tue, 01 Sep 2020 16:29:54 +0000
The U.S. government will send an “overwhelming majority” of the rapid COVID-19 tests it purchased from Abbott Laboratories last week to governors of U.S. states and territories to support school reopening and other critical tasks, an administration official said at a press briefing. Other top priorities for the newly purchased tests include day care centers, first-responders, and ‘critical infrastructure,' said Admiral Brett Giroir, the assistant secretary for health at the U.S. Department of Health and Human Services. The U.S. government purchased 150 million rapid antigen tests for COVID-19 from Abbott in a roughly $750 million deal.

Why Abbott Stock Is Up
Tue, 01 Sep 2020 13:42:27 +0000
The medical device maker just secured an FDA approval that could be a game-changer in the fight against COVID-19.

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