Is it Time to Dump ABB Ltd (ABB) Stock After it Is Lower By 0.78% in a Week?

Friday, February 03, 2023 03:26 PM | InvestorsObserver Analysts

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Is it Time to Dump ABB Ltd (ABB) Stock After it Is Lower By 0.78% in a Week?

Overall market sentiment has been down on ABB Ltd (ABB) stock lately. ABB receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

ABB Ltd has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ABB!

See Full ABB Report

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ABB Stock Today?

ABB Ltd (ABB) stock is trading at $34.37 as of 3:25 PM on Friday, Feb 3, a rise of $0.44, or 1.28% from the previous closing price of $33.93. The stock has traded between $33.96 and $34.58 so far today. Volume today is 1,258,625 compared to average volume of 1,258,130. To screen for more stocks like ABB Ltd click here.

More About ABB Ltd

ABB is a global supplier of electrical equipment and automation products. Founded in the late 19th century, the company was created out of the merger of two old industrial companies: ASEA and BBC. The company is the number-one or number-two supplier in all of its core markets and the number-two robotic arm supplier globally. In automation, it offers a full suite of products for discrete and process automation (continuous processes like chemical production) as well as industrial robotics. Click Here to get the full Stock Report for ABB Ltd stock.