C. R. Bard, Inc. designs, manufactures, packages, distributes, and sells medical, surgical, diagnostic, and patient care devices worldwide. The company offers vascular products, such as percutaneous transluminal angioplasty catheters, chronic total occlusion catheters, guidewires, fabrics, meshes, introducers, and accessories; valvuloplasty balloons; peripheral vascular stents, self-expanding and balloon-expandable covered stents, and vascular grafts; vena cava filters; biopsy devices; and temporary pacing electrode catheters for the treatment of peripheral vascular disease and heart arrhythmias.
Take a look at the 1-year chart of C.R. (NYSE: BCR) below with my added notations:
BCR has created a simple chart pattern known as a symmetrical
triangle. Combining a down trending resistance (red) with an up trending
support (green) forms the triangle pattern. As the support and
resistance converge on each other the pattern is created. Since there is
no true way to know which way the stock will break, most traders will
wait for the breakout or breakdown before entering a trade.
The Tale of the Tape: BCR has formed a simple
symmetrical triangle. A trader could enter a long position on a break
above the down trending resistance (near $195) with a stop set under the
entry level. However, if BCR were to break below the trend line support
(currently near $190), a short trade could be entered with a stop above
the trend line.