Baxter: Incremental Progress

Filed under: Baxter Intl (BAX), Stocks to Buy

Shares of Baxter International (BAX), first discussed here on March 13, 2009 at a price of $51.16, pushed this winter above major, psychological resistance at $50. But they appear to be struggling at/near $54 -- and the calculation at this juncture is to maintain the trade.

That said, this trade may not pan out. Baxter's chart is in danger of forming a short-term double top at that aforementioned $54 level. What's more, there's also clutter at/near $58, hence BAX has its work cut out for it, from a technical standpoint.

I'd also raise the sell/stop loss to $44 from $37 at this stage: another swoon will not be tolerated -- BAX has had two years to perform.

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Baxter: Incremental Progress originally appeared on BloggingStocks on Wed, 30 Mar 2011 17:00:00 EST. Please see our terms for use of feeds.

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