Biotech and pharmaceutical stock have broken out to the upside over the past week or so.
This is perhaps most visible by the 13.15% gain recorded in your AbbVie (ABBV) shares over the past five days.
This week’s new Momentum Trader Alert recommendation is another closely related stock in this red hot sector: Abbot Laboratories (ABT).
Founded in 1888 and headquartered in North Chicago, Illinois, Abbot Laboratories (ABT) is a global health care company that develops a wide range of health care products and technologies. The company has a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritional and branded generic pharmaceuticals.
Abbott Laboratories (ABT) versus the S&P 500 year to date
Momentum Trader Alert Analysis
Recommendation
Buy Abbott Laboratories (ABT) at market today and place your stop at $48.00.
I am holding off on recommending any options on this position after last Friday’s big jump.
Portfolio Update
Sell your remaining AbbVie (ABBV) November $70 calls for a 413% gain.
Raise your stop in ABBV’s stock to $83.80 to lock in at least a 20% gain.
Sell your remaining Intuitive Surgical, Inc. (ISRG) October $920 calls for a triple-digit-percentage gain.
Raise your stop in ISRG’s stock to $1,010.00 to lock in at least a 15% gain.
Raise your stop in CBOE Holdings Inc. (CBOE) to $101.05 to lock in at least a 10% gain in the stock.
You were stopped out of United Technologies (UTX) last week at a loss.
Sincerely,
Nicholas A. Vardy
