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Possible Bearish Inside Day Candle Pattern Detected for Becton Dickinson (NYSE:BDX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Becton Dickinson (NYSE:BDX) based on the price action in the company's shares. Today's price range of $234.50 and $234.50 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 Becton Dickinson may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 6.9% for shares of Becton Dickinson based on a current price of $234.50 and an average consensus analyst price target of $250.72. Becton Dickinson shares should first meet resistance at the 50-day moving average (MA) of $239.76 and find additional resistance at the 200-day MA of $242.69.

Over the past year, Becton Dickinson has traded in a range of $208.62 to $265.87 and is now at $234.50, 12% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Becton, Dickinson and Company is a global medical technology company engaged principally in the development, manufacture, and sale of medical devices, instrument systems, and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public.

SmarTrend is tracking the current trend status for Becton Dickinson and will alert subscribers who have BDX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle becton dickinson

Ticker(s): BDX