Abbott Laboratories (ABT) stock settled lower in its latest intraday trading, affected by a previously formed negative technical pattern on the short-term chartan ascending wedge pattern. Continued negative pressure persists as the stock trades below the previous 50-day SMA, further supported by bearish signals from the relative strength indicators, despite reaching extremely oversold areas.

Therefore, we expect the stock to decline in its upcoming trading sessions as long as the resistance level of 133.35$ holds, targeting the key support level of 120.50$.

Todays stock forecast: Bearish.