Down 9.0% in 4 Weeks, Here's Why Abbott (ABT) Looks Ripe for a Turnaround

Group 1 - Abbott (ABT) has experienced a 9% decline over the past four weeks, but it is now in oversold territory, indicating a potential trend reversal [1] - The Relative Strength Index (RSI) for ABT is currently at 21.37, suggesting that the heavy selling pressure may be exhausting itself [5] - There is strong consensus among Wall Street analysts that ABT will report better earnings than previously predicted, with a 0% increase in the consensus EPS estimate over the last 30 days [7] Group 2 - ABT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [8]