Masimo Corporation (MASI) is a global medical technology company that develops and manufactures innovative noninvasive patient monitoring technologies, medical devices, and a wide array of sensors. Per the company website:
Masimo employs over 4,000 people worldwide, with annual revenues of approximately $700 million. Licensing agreements allow Masimo technology to work inside monitoring devices from a host of manufacturers, including Philips, Atom, Datascope, GE Medical, Medtronic, Spacelabs, and Zoll.
Masimo’s mission, is to improve patient outcomes and reduce the cost of care by taking noninvasive monitoring to new sites and applications.
Masimo Corporation (MASI) - Bearish Engulfing Candlestick
This first chart is a 5 year monthly candlestick chart for Masimo Corporation (MASI). A Bearish Engulfing candlestick pattern developed in May 2017 that started a downtrend for MASI. The 2 gray shaded boxes represent reversal areas for MASI's share price. These reversal areas can also be used to make scale-in purchases.
The resistance area from the Bearish Engulfing candlestick pattern is right on the 261.8% Target Line from the green Fibonacci Extension Tool. The 261.8% Target Line is the target for an extended rally.
MASI developed this bearish candlestick pattern at the end of an extended rally. The bearish candlestick pattern was confirmed by…...
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Its current downtrend is reviewed with 2 highly probable support areas identified. These 2 support areas could be used to make scale-in purchases and build a position in Masimo Corporation (MASI).
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I have a good feeling about this stock. There has been recent talk about a buy out. Great analysis..thank you Bass!!