During "earnings season" Jim Cramer often uses some time in his Mad Money program on Fridays to look to the week ahead, highlighting a few companies that are due to report their latest numbers.
This Wednesday brings earnings from several companies that Cramer was bullish on including Bausch Health Companies, Inc. (BHC) . Let's check out the charts of this Canada-based company that develops and manufactures drugs for skin diseases, gastrointestinal disorders and eye health.
In the daily bar chart of BHC, below, we can see that prices have been trading sideways to lower from a spike high in December. Prices are now below the declining 50-day moving average line. The rising 200-day moving average line is not all that far below the market around $25.
The daily On-Balance-Volume (OBV) line has also been declining since the middle of December and suggests that sellers of BHC have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator peaked in November and is now below the zero line in a sell mode.