Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Technical analysis of Idexx Laboratories (IDXX) reveals a significant setup. The stock is trading at $584.05, up 1.75% on the day. Algorithmically, a Bearish Flag structure has completed. Volume is average (0.8x avg) with moderate trend strength (12.1). A potential breakout level is identified at $548.51, targeting $377.07 with support near $605.82 (R:R 2.99).
What is your outlook on IDXX?