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Medical Instruments/Supls Industry Technical Analysis

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- 12/6/2019 -
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Becton, Dickinson (BDX)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fourth consecutive positive week for the Becton, Dickinson (BDX). During the week, the BDX climbed 2.19 points, or 0.85%, and closed at 260.69 on Friday, December 6, 2019. Weekly volume was -33% below average.

BDX is a member of Healthcare Sector. Healthcare is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BDX long-term trend chart]
A long-term uptrend had started on October 4, 2011 at 69.59 and reached 265.87 on October 1, 2018. BDX gained -196.28 points, or -282.05%, in 364 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 227.00 and resistance is at 298.88. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See BDX medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 208.62 and reached 264.74 on September 6, 2019. BDX gained -56.12 points, or -26.90%, in 36 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 240.61 and resistance is at 268.75. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BDX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 4, 2019. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See BDX short-term trend chart]
A short-term uptrend had started on November 13, 2019 at 240.61 and reached 261.92 on December 6, 2019. BDX gained -21.31 points, or -8.86%, in 23 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 256.52 and resistance is at 270.03. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See BDX daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since November 20, 2019. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.14
Williams' Percentage Range (W%R) 9.00
Strong Overbought
Lane's Stochastic (%D-Slow) 78.38
Bearish
Greed/Fear Indicator (GFI) 79.50
Moving Average Converg./Diverg. (MACD) 1.37 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.70
Williams' Percentage Range (W%R) 13.30
Overbought
Lane's Stochastic (%D-Slow) 47.63
Greed/Fear Indicator (GFI) 61.30
Moving Average Converg./Diverg. (MACD) 2.16
Trading Signals
Description Value Chart
Yearly Trendline Resistance 298.88
Weekly Trendline Resistance 270.03
Quarterly Trendline Resistance 268.75
Upper Bollinger Band 266.40
Price 260.69
Daily Stochastic Crossing 259.97
Monthly Trendline Resistance 257.33
Weekly Trendline Support 256.52
Parabolic System 254.34
20 Day Moving Average 251.41
50 Day Moving Average 251.33
Weekly Stochastic Crossing 251.20
Lower Bollinger Band 241.57
Quarterly Trendline Support 240.61
Monthly Trendline Support 238.47
Yearly Trendline Support 227.00
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Medical Instruments/Supls 66
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 253.58
Low Date 12/03/2019
High 261.92
High Date 12/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 270.03
Support 256.52
Low 240.61
Low Date 11/13/2019
High 261.92
High Date 12/06/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 257.33
Support 238.47
High 264.74
High Date 09/06/2019
Low 240.61
Low Date 11/13/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 268.75
Support 240.61
Low 208.62
Low Date 12/26/2018
High 264.74
High Date 09/06/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 298.88
Support 227.00
Low 69.59
Low Date 10/04/2011
High 265.87
High Date 10/01/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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