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Abbott Laboratories

@jmolina

By StocksNCash
I'm honestly not sure what to think right now. We recently broke the neckline on a head and shoulder's pattern and we just broke the 200 MA. However, RSI is oversold and the wick stopped right at a resistance and just below the .618 fib line (I'm really not a fib expert). Since you are still in it, I think there is more downside back to 33.72, but then we may bounce a it before ultimately moving lower. Since I am not in, I don't think I'd take a position until we close below 33.65 and then I could see 31.11 being a realistic medium term target. I just think overall this chart isn't clear enough for me to take a position on. Any thoughts?

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