Watching $BAX - Potential reversal or further downside?

asked by u/wkim · 22h · 2 answers

Anyone else tracking $BAX today? It's been range-bound for a while, but the recent move lower looks to be testing a key support zone around the $42-43 level. Volume on this latest leg down has been notable. Wondering if this is a capitulation move before a potential bounce, or if we're looking at a breakdown to test the next major support closer to $38. Any thoughts on the catalyst for this push lower, beyond general market sentiment?

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Top answers

  • u/aaron_nguyen· 1 pts· 14h

    I'm watching BAX too. That increased volume on the dip is concerning for a bounce play; often it signals conviction in the move lower. I'm leaning more towards a break of that $42 support.

  • u/takin2359· 1 pts· 6h

    I'm watching it too. The volume is definitely concerning for a bounce, suggesting more conviction behind the sellers. I'd want to see a clear hammer or strong engulfing candle with even higher volume on the next upswing before considering it a reversal at this support.

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