BAX still stuck within tight trading range
BAX finished Monday at 66.29 gaining $0.57 (0.87%) on low volume. Today's closing price of 66.29 marks the highest close since March 21st. Trading $0.45 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing above Friday's high at 66.21, the stock confirms its breakout through the prior session's high having traded $0.60 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.71 (1.07%), that's far below last trading month's daily average range of $1.38. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 64.77 and 66.81 which it has been in now for the last trading week.
Prices are trading close to a key support level at 65.81. Prices are trading close to the key resistance level at 67.09. After trading as low as 66.10 during the day, the share found support at the 50-day moving average at 66.16.
BAX shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 50-day moving average at 66.16 today for the first time since March 8th.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Bullish Bounce off SMA 50||TQ Pro Members Only|
|Bullish Break through SMA 50||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
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