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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Becton Dickinson (NYSE:BDX) based on the price action in the company's shares. Yesterday's price range of $243.65 and $247.19 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 Becton Dickinson 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, Becton Dickinson share prices have been bracketed by a low of $208.62 and a high of $264.74 and closed yesterday at $245.78, 18% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 0.34% lower over the past week, respectively.

Potential upside of 2.0% exists for Becton Dickinson, based on a current level of $245.78 and analysts' average consensus price target of $250.72. Becton Dickinson shares should first meet resistance at the 200-day moving average (MA) of $246.77 and find additional resistance at the 50-day MA of $251.61.

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 monitoring the recent change of momentum in Becton Dickinson. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Becton Dickinson in search of a potential trend change.

Keywords: bullish am inside day candle becton dickinson

Ticker(s): BDX