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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 $88.17 and $88.17 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.

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.

In the past 52 weeks, Baxter Intl Inc share prices have been bracketed by a low of $69.10 and a high of $95.19 and closed yesterday at $87.27, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Baxter Intl Inc (NYSE:BAX) is currently priced 13.2% above its average consensus analyst price target of $75.77. The stock should find initial support at its 200-day moving average (MA) of $85.34 and further support at its 50-day MA of $84.47.

SmarTrend recommended that subscribers consider buying shares of Baxter Intl Inc on March 27th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.52. Since that recommendation, shares of Baxter Intl Inc have risen 11.9%. We continue to monitor BAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle baxter intl inc

Ticker(s): BAX