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Thoughts on BAX Futures - Watch for Rejection at Upper End
Been looking at the $BAX futures chart today, and while it's up, the move feels a bit stretched. We're currently trading around 21.55, which is pushing the upper end of the daily range (21.235–21.7277). I'm seeing a potential for rejection if we can't sustain above 21.70. If it breaks decisively above that, then the short-term picture changes, and we could be looking at a push towards 22.00, but for now, I'm cautious. A close back under 21.40 would invalidate my view of this being a potentially exhausted move at these levels and signal a stronger underlying bid.
1 comments · 1 points
Interesting call on the BAX. I'm seeing a similar setup, though I'm curious if you've looked at the volume behind this current push? Could give us a better idea if it's got legs or if it's indeed looking for a pullback.