• Return to Headlines

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

By Shiri Gupta

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 $82.19 and $82.29 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 ($82.23) 7.9% above its average consensus price target of $75.77. The stock should discover initial support at its 50-day moving average (MA) of $78.40 and subsequent support at its 200-day MA of $73.09.

In the past 52 weeks, shares of Baxter Intl Inc have traded between a low of $61.05 and a high of $82.85 and are now at $82.23, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.43% higher over the past week, respectively.

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 recommended that subscribers consider buying shares of Baxter Intl Inc on June 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.71. Since that recommendation, shares of Baxter Intl Inc have risen 5.6%. We continue to monitor BAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle baxter intl inc

Ticker(s): BAX