CR Bard Inc

On September 19, we mentioned that the stock price of CR Bard Inc. (NYSE:BCR) broke beyond the confined trading range of a horizontal channel. As you can see from the chart below, the bulls were able to briefly send the price higher, but the rally came to an abrupt end when it hit resistance at $90. Notice how the bears have pushed the stock down toward $85.50, which technically should be a strong level of support. This brief pullback, also known as a throwback, is a common occurrence and does not mean that the bullish momentum is over. The current price level provides traders with an attractive risk/reward ratio and could also give those who missed the breakout an ideal chance to enter. We'll keep a bullish outlook on this stock until the price closes below the $85.50 mark.