Approaching Support: Baxter International
Published on Friday, 15 February 2013 06:20 Written by TradersHuddle Wire
New York, February 15th (TradersHuddle.com) - Shares of Baxter International, Inc. (NYSE:BAX) ended the trading session close to calculated support at $65.20, a level that will raise the attention of traders looking for an entry point.
Baxter's stock range is defined by its calculated support defined at $65.20 and by the resistance level at $69.30. This range could be used as a reference by traders planning their next move. The area where buyer interest might materialize is defined as calculated support. Stocks trading near support might see upside if it can successfully hold the technical level. However, this area if breached will signal participants that the stock failed to entice buyers to step in to support it.
Traders wanting to establish a position should pay close attention to Baxter's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $69.30 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.
Shares of Baxter International, Inc. closed at $68.17 in the prior trading session.Baxter International Inc. (NYSE:BAX) develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic medical conditions. The healthcare products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and research laboratories.
Recent Trading Ideas