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CR Bard Inc. Message Board

  • stocktrader7758 stocktrader7758 Aug 4, 2005 8:38 PM Flag

    Short candidate from

    New Puts

    CR Bard - BCR - close: 64.45 chg: -1.46 stop: 67.51

    Company Description:
    C. R. Bard, Inc., headquartered in Murray Hill, N.J., is a leading multinational developer, manufacturer and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology and surgical specialty products. (source: company press release or website)

    Why We Like It:
    The 2 1/2 year rally in shares of BCR appeared to have peaked near $75.00 in May. Since then the stock has been sliding under a trend of lower highs although BCR did spend most of the last six weeks in a trading range between $65.00 and $68.00. BCR recent action has been very bearish. The stock failed at its simple 50-dma, broke down under both its simple and exponential 200-dma's, and broke through round-number price support at the $65.00 level on above average volume. This has naturally turned its technical indicators bearish but we also see that its P&F chart has turned bearish and points to a $59 target. We are going to suggest bearish positions here under $65.00 and target a drop into the $60.50-60.00 range.

    Suggested Options:
    We are suggesting the September puts.

    BUY PUT SEP 65.00 BCR-VM OI= 90 current ask $3.90
    BUY PUT SEP 60.00 BCR-VL OI=220 current ask $2.50

149.88-0.82(-0.54%)Aug 19 4:00 PMEDT

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