Shares of C.R. Bard (BCR) have been saw-toothing lower since August, but now the downtrend in prices could pick up steam as key chart points are approached.
Let's start by looking at this chart of Bard, above, from right to left. In January, Bard broke below its 200-day moving average. Prices rebounded to retest this key average from the underside and now broke sharply below again. Looking more to the left, we can see the slope of the 50-day moving average turns down in October.
The On-Balance-Volume (OBV) line has been declining since August and the Moving Average Convergence Divergence (MACD) oscillator is below the zero line telling us the trend is negative.
The longer-term chart of Bard, above, is interesting in that after a prolonged uptrend, a major trend change for Bard is under way. Prices are now below the 40-week simple moving average and the slope of this long-term has begun to roll over.
The OBV line is edging down on this timeframe. The MACD oscillator has been in a "liquidate longs" mode for a number of months now. There is a zone or area of chart support in the $180-$165 region but the next support zone is down around $150.
Buyers should stay on the sidelines with Bard until a base is formed, potentially at a lower level.