ABB Ltd (ABB) has been under a strong bear grip, hence the stock is down -1.47% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.91% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.55% in the last 1 week, and is up 5.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
ABB Ltd (NYSE:ABB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.95 and $20.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.91, notching a gain of 1.01% for the day. The total traded volume was 2,299,618 . The stock had closed at $20.70 on the previous day.
The stock has recorded a 20-day Moving Average of 7.81% and the 50-Day Moving Average is 6.16%. ABB Ltd. is up 4.75% in the last 3-month period. Year-to-Date the stock performance stands at 22.77%.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business -based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications. The Process Automation division provides engineered solutions, products and services for process control, safety, instrumentation, plant electrification and energy management. The Power Products division offers a portfolio of products and services to facilitate power generation, transmission and distribution. The Power Systems division offers solutions for power and water plants, grid integration and automation, as well as a range of systems and services for the generation, transmission and distribution of electricity. The Company operates in approximately 100 countries.