C.R. Bard (BCR) has been in a very durable uptrend since 2002 and there is no visible top formation, so we anticipate even further gains in the weeks and months ahead.
Let's review our updated charts and indicators to navigate the road ahead.
In this daily bar chart, above, we can see just part of the long advance that BCR investors have enjoyed. In the past 12 months, BCR rallied to an early July peak followed by a correction until early December. Since December, BCR has been back in rally mode and is now above the rising 50-day and 200-day moving average lines. The On-Balance-Volume (OBV) line has been rising the past 12 months, telling us that buyers of BCR have been more aggressive with stronger volume seen on days when the stock has closed higher. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in a take-profits mode.
In this weekly chart of BCR, above, we can see more of the stock's longer-term advance. Notice how well the rising 40-week moving average line has marked the uptrend. The weekly OBV line has also confirmed the rise. The MACD oscillator on this timeframe is still very bullish. The oscillator has been above the zero line for the entire three years!
In this Point and Figure chart of BCR, above, we can see the double top breakout at $240 and the big upside price target of $351.
Bottom line: BCR has not dipped much in the rally from December, so I would buy it at current levels and on strength. I would risk to $240 for now and look for gains in the months ahead toward the $350 area.