Becton, Dickinson, and Company (BDX) retraced its path to the 20-day EMA and slipped from the highs of $290. However, the stock is trading in the bull trajectory and suggesting a bounce based on the bullishness of the stock. Moreover, the price action shows that buyers have attained momentum, sellers showed their aggressive muscles, and profit booking was shown on the charts.
BDX released Q2 earnings last week, which were above the estimates, but the stock price faced a barrier near $270. However, the sentiments favor the bulls and suggest a bounce from the 20-day EMA. In the past months, BDX stock showed roller coaster moves and stayed in the narrow range. However, the stock left the trajectory and the price action suggests an up move for the following sessions.
Becton, Dickinson & Co. is a global medical technology company that develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products. It operates through the following segments: BD Medical, BD Life Sciences, and BD Interventional. The BD Medical segment produces medical technologies and devices to help improve healthcare delivery.
The BD Life Sciences segment provides products for the safe collection and transport of diagnostics specimens, and instruments and reagent systems to detect infectious diseases, healthcare-associated infections, and cancers.
At press time, BDX stock price is trading at $270.79 with an intraday gain of 0.78% showing bullishness on the charts. Moreover, the trading volume increased by 0.89% to 1.592 Million The market cap is $78.558 Billion. Analysts maintained a buy and outperform rating with a yearly price target of $295.42, suggesting a growth outlook.
BDX Price Action On Daily Chart
On the daily charts, BDX stock price is near the 20-day EMA. It retraced from the high of $290. However, the charts suggest a rise toward $300 in the following sessions.
As per the Fib levels, BDX stock price failed to surpass 78.3% and returned toward 61.8%. However, buyers are attempting a bounce and trading in the bull trajectory, indicating buyers’ strength on the charts.
What Technical Indicators Say?
On the 4 hours chart, BDX stock price retested the neckline of $270 and slipped from the highs of $290.
The RSI curve slipped from the overbought zone toward the selling region. A negative crossover was noted on the charts. Moreover, the technicals suggest a rebound in the following sessions.
The MACD indicator showed a bearish crossover and red bars on the histogram indicating profit booking on the charts.
Conclusion
BDX stock shows volatility. The stock retraced toward the 20-day EMA. Profit booking was noted on the charts. However, buyers have attained their strength and are attempting a rebound toward the highs of $290.
Technical Levels:
- Support Levels: $260 and $250
- Resistance Levels: $290 and $300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/06/will-bdx-stock-nyse-bdx-price-rebound-from-20-day-ema/