BAX reversed off its resistance at 70.14 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where price could fall further to its support at 64.90 (61.8% Fibonacci retracement).
Stochastic is pproaching its resistance at 97% where a corresponding drop could occur.
BAX announces earnings tomorrow BMO est .71. Last earnings were incredible, and this one should be better as Hurricane Maria's damages have already been paid for. Strong expansion into foreign countries/continents such as India, Eastern Europe, and Africa.
MACD: Daily crossing showing strong bullish momentum before earnings. Already crossed and in an uptrend on ...
BAX seems breaking down from an upward channel. It had some recent insider selling in big quantities. It just broken down below 200 days moving average. We think it has good downside potential.
To Play this we could consider may $62.50 Puts. ($1.20 currently)
* Trade Criteria *
Date First Found- March 28, 2018
Pattern/Why- Inverse Bump & Run continuation. ...
Purchase of shares after the rebound from the support level and 200MA, which tells us about the upward trend. At the moment, almost the whole market draws the same picture, it's a pennant. It can be assumed that the market will continue to grow, based on data on the growth of long-term investments in the market and the reduction of short positions.
This stock has been an absolute monster, raking in over 40% returns since December of last year. It has now reached a decision point where former support meets the lower trendline, which should both push the stock even higher. Add to that a bullish RSI reading and we've got a great risk vs reward setup. Here's the trade:
LONG: above $60.25
Give sometime to see if price fails to hold the support, it looks today;s close below the neckline suggest the confirmation of this bearish pattern. Expect 7% decline from today's close price. Try us www.2waytrading.com
In trading on Wednesday, shares of Baxter International Inc. (NYSE: BAX) crossed below their 200 day moving average of $69.99, changing hands as low as $67.62 per share. Baxter International Inc. shares are currently trading down about 4.7% on the day. The chart below shows the one year performance of BAX shares, versus its 200 day moving average any reverse to ...