Technical indicators signal a Descending Triangle forming. Verify the setup on the chart.
Bearish continuation pattern.
Sideways movement between parallel supports.
Technical analysis of Becton Dickinson (BDX) reveals a significant setup. The stock is trading at $145.18, down 1.2% on the day. Algorithmically, a Descending Triangle structure has completed. The trend indicator is reading 10.1/100, suggesting moderate momentum. A potential breakout level is identified at $141.82, targeting $123.69 with support near $155.28 (R:R 1.35).
What is your outlook on BDX?