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- ABDX stock is trading at £11.15 while witnessing a gain of 1.36% in the past intraday session.
- Abingdon Health has partnered with Tesco for the Salistick saliva pregnancy test launch.
- The year-to-date return of ABDX stock is 63.38%.
Abingdon Health is scheduled to launch the UK’s first ever Salistick saliva pregnancy test both online and in the Tesco supermarkets by late August 2023. This helped ABDX stock jump by 28% after that development which was held on 15 August 2023. Abingdon Health has revealed that saliva pregnancy tests will be available at 298 Tesco stores.
However, Abingdon Health and Tesco’s partnership catalyzed the growth in price action with a sudden spike of roughly 48% in just 2 days, with a resistance level of £14.50. After that hike, the stock price faced rejection, resulting in a pullback and it is now hovering near the £11.10 level.
However, if the current bullish momentum is sustained in the market, the price might surge and retest the previous primary resistance level of £13.00. On the contrary, if the bears take hold of ABDX price, then there is a possibility that the price might fall toward the previous support level of £10.50.
Abingdon Health Says Non-Covid Revenue Surged Double in Past Year
In early 2023, ABDX stock consolidated between £6.60 to £3.90, and this phase lasted until late March 2023. From there, the price observed a bullish momentum from the low of £4.75.
However, ABDX stock price surged 230% in 3 months while forming higher lows and higher highs. During this movement, the price achieved an annual high at £18.50 on 19 June 2023, but it was halted there with a resistance level.
The price then faced rejection and was dragged downwards to the previous resistance level of £10.55. Thus, the past resistance level became a support level due to this event.
Will Bullish Sentiment Sustain?
ABDX stock price is currently trading above the 20, 50, and 100-day EMAs, indicating strength and strong participation of buyers in the market. However, the
chaikin money flow (CMF) score is 0.12, reflecting strength with a stronghold of bulls in the market.
The relative strength index (RSI) trades at 54.50, denoting slight strength in the market during the intraday session.This reveals that the price is influenced by buyers of the market. The current market capitalization of Abingdon Health PLC is £13.38 Billion, with an average volume of 1.12 Million shares.
Conclusion
With the launch of the Salistick saliva pregnancy test, Abingdon Health remarked on the bright future ahead. Investors should look for buying opportunities as the indicators reflect the same.
Technical Levels
Major resistance: £18.50 and £14.50
Major support: £4.0 and £4.90
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
