The Daily structure is showing an early-stage bullish reversal after a prolonged multi-year downtrend. Price has established a higher low above the long-term demand zone and is now attempting to build a sustainable accumulation base. As long as buyers defend the current support area, the probability favors a continuation toward the major resistance overhead.

Technical Overview
Trend: Transitioning from long-term bearish to bullish.
Market Structure: Higher lows are developing, suggesting accumulation.
Momentum: Improving, but the stock still needs a confirmed breakout above major resistance to validate the next impulsive leg.
Volume: Volume has increased during bullish advances, indicating institutional participation rather than purely speculative buying.
Key Levels

Support Zone

$4.20 – $4.50
This is the primary demand area where buyers have repeatedly stepped in.
A weekly close below this zone would invalidate the current bullish outlook.

Current Entry

Around $7.25, which is reasonable for a swing position while price remains above support.

Major Resistance

$12.70 – $13.25
This is a significant historical supply zone where previous sellers became active.
Expect increased volatility and profit-taking once price approaches this area.
Trade Setup

Entry: 7.25 USD

Stop Loss: 4.26 USD

Target: 12.70–13.25 USD

Potential Upside: +75% to +90%
Risk/Reward Ratio: Approximately 2:1, making the setup attractive for swing traders.
Bullish Scenario

A weekly close above $13.25 with strong volume would confirm a major breakout from the long-term base.

If this occurs, the next upside objectives become:

$16.50
$20.00
$24.00

This would mark the beginning of a new long-term bullish cycle.

Bearish Scenario

If price loses $4.20 on a weekly closing basis:

The bullish structure becomes invalid.
Selling pressure could accelerate toward previous lows.
Long positions should be protected according to the predefined stop loss.
Technical Indicators to Watch
Weekly RSI holding above 50 would support bullish continuation.
MACD bullish crossover on the weekly timeframe would strengthen the trend confirmation.
Rising volume during breakout attempts is essential; low-volume breakouts are more prone to failure.
Trading Strategy

The stock remains suitable for medium- to long-term swing trading, provided it stays above the major support zone.

Hold above $4.20 → Bullish bias remains intact.
Break above $13.25 → Strong buy confirmation with potential for a new long-term uptrend.
Failure below $4.20 → Exit the position and reassess.

Conclusion

The weekly chart suggests that ABEO is transitioning from accumulation into an expansion phase. The $12.70–13.25 region is the critical level to watch. A decisive weekly breakout above this resistance could unlock substantial upside toward $16.50–20.00, while maintaining a favorable risk/reward profile from the current entry near $7.25.