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

By Nick Russo

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 $76.64 and $76.96 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 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.

Baxter Intl Inc (NYSE:BAX) is currently priced 1.1% above its average consensus analyst price target of $75.77. Baxter Intl Inc shares should encounter resistance at the 50-day moving average (MA) of $77.27 and support at its 200-day MA of $72.02.

Over the past year, Baxter Intl Inc has traded in a range of $61.05 to $82.25 and is now at $76.64, 26% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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