• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Baxter Intl Inc (NYSE:BAX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Baxter Intl Inc (NYSE:BAX) based on the price action in the company's shares. Today's price range of $76.02 and $76.02 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Baxter Intl Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Baxter Intl Inc (NYSE:BAX) defies analysts with a current price ($76.02) 0.3% above its average consensus price target of $75.77. The stock should hit resistance at its 50-day moving average (MA) of $76.72, as well as support at its 200-day MA of $71.94.

In the past 52 weeks, Baxter Intl Inc share prices have been bracketed by a low of $61.05 and a high of $82.25 and are now at $76.02, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Baxter International Inc. develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. The Company's products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and research laboratories.

SmarTrend is tracking the current trend status for Baxter Intl Inc and will alert subscribers who have BAX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle baxter intl inc

Ticker(s): BAX