Abbott Laboratories (ABT-N) declined from $142.60 in December 2021 to $93.27 in October 2022 (A-B) below the falling 40-week Moving Average (40wMA). The stock then settled in a large trading range mostly between $94 and $120 (dashed lines). The rise above the top of this range signaled a breakout and the start of a new uptrend (C). However, Abbott was overbought at this time and far above the average. It has since pulled back and found support at the average providing a good entry level. Behavior indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. Only a sustained decline below $115-117 would be negative. Point & Figure measurements provide targets of $145 and $160. The large trading range (dashed lines) supports higher targets. Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com