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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Baxter Intl Inc (NYSE:BAX) based on the price action in the company's shares. Yesterday's price range of $79.36 and $79.81 is within the prior day'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. Traders and investors interested in shares of Baxter Intl Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Baxter Intl Inc have traded between a low of $61.05 and a high of $82.25 and closed yesterday at $79.61, which is 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Baxter Intl Inc (NYSE:BAX) defies analysts with a current price ($79.61) 4.8% above its average consensus price target of $75.77. Baxter Intl Inc shares have support at the 50-day moving average (MA) of $76.34 and additional support at the 200-day MA of $71.89.

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: bullish am inside day candle baxter intl inc

Ticker(s): BAX