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

By Shiri Gupta

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. Yesterday's price range of $257.42 and $260.33 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. 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.

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.

Becton Dickinson (NYSE:BDX) defies analysts with a current price ($258.50) 3.0% above its average consensus price target of $250.72. The stock should discover initial support at its 50-day moving average (MA) of $250.79 and subsequent support at its 200-day MA of $247.11.

In the past 52 weeks, Becton Dickinson share prices have been bracketed by a low of $208.62 and a high of $264.74 and closed yesterday at $258.50, 24% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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 am inside day candle becton dickinson

Ticker(s): BDX