Baxter International Inc. is an American multinational health care company with headquarters in Deerfield, Illinois. The company primarily focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions.
#BAX is in bearish context since the beginning of April 2020, however we believe that a technical perspective the stock is now offering a good upside potential.
The stock is reporting a lower lows on the RSI comparing the price on 4th and 25th November 2020: this is leading us to think that the stock is consolidating and ready for an upside.
In addition, the MACD is sloping up: still below 0, correctly describe the negative momentum of the stock.
For the near future, we can see the stock re-testing the upper end of the channel: if strong volumes will be reported, a break of the trend line will be taken into account.
Buy price: $ 76.07
1st target: $ 78.00
2nd target: $ 81.00
Stop loss: $ 73.50
OTB Global Investments
London, 6 December 2020