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.
Once these concerns are allayed, given the consolidation In the long term Abbott should be a good bet.