After showing a bull
trend that lasted several years the stock has moved to bearish
teritorry in the past year. During this time the stock price has been range bound between 36 and 46. It is showing resistance at 36 levels. The relative strength
of the stock when compared to the S&P 500
is indicating that Abbott is underperforming the market and bearish
. This is confirmed by the MACD
indicator not crossing into positive territory. In the short term we could expect a certain bounce back. Long term bearish trend
reversal needs to confirmed with fundamental performance.