Bausch Health Companies Inc (BHC) News

BHC closed down 7.32 with a trading range of 7.26 - 7.42 on volume of 2 million. So going down as slow as it was going up, so that's good IMO. BLCO 15.84
200DMA 7.83
50DMA 6.80
20DMA 7.07
This climb up could look similar to the November 2023 chart IMO. up slow with a couple red down days and then slowly back up so more. I had some low buys in thinking market would drop but it didn't play out like that. I expect ER and court in September to really get things going and if it goes BHC's way then HERE WE GO...

BHC closed at 7.42 on over 3 million shares traded in the range of 7.38-7.62
200DMA 7.84
50DMA 6.83
20DMA 7.04
I still think we could test one or both of those lower DMA's before testing the higher 200DMA but who knows.
BLCO 15.94 close but went over 16 for a bit today. (16.11 high)
Might be in the 7-7.5 pattern before the 7-8/8.5 one.

VOLUME!!! Over 9 million traded but more than a 3rd of that was before the market opened so don't know what that was but a good day none the less.
BHC 7.55 with a range of 7.35 - 7.57 with 9 million volume as mentioned already.
200DMA 7.84
50 DMA 6.86
20 DMA 7.00
BLCO 15.90 close

Also the price target from Raymond James is 13 according to Charles Schwab. MT Newswire said 19 yesterday but today I can't find that. So I was wrong. Chart keeps marching on up into earnings which will be released 8/1/24 before the market opens. BooYAHHH!!!

I expected a down day but the 19 price target from Raymond James probably helped get BHC moving up after a quick dip to 7.07 at the open to a high of 7.38 on 2 million shares. with BHC closing @ 7.32
200 DMA 7.84
50 DMA 6.88
20 DMA 6.94
BLCO closed @ 15.47

So BHC went lower then higher than yesterday. Looks like an Inverted Head and Shoulders forming and possibly a Cup and Handle if we get back up to 9. BHC likes it's trading ranges but the court POP has me thinking it's time to stop trading and keep my core. However we could just as easily trade in the 7-7.5 range until the next leg up. The 200DMA will probably break before earnings but get tested shortly after breaking it as 8.10 was ceiling before if I recall. As was 22.50 a floor back in the day. lol

BHC 7.19 trading range of 7.12 - 7. 36 on 2.33 million shares
200 DMA 7.85
50 DMA 6.91
20 DMA 6.90
So those last two will cross with 20 heading up and 50 still heading down.

Had internet issues Monday but BHC closed 7.29 with a high of 7.42 and I can't remember the low but I'm thinking 7.20 with 2.75 million traded. So far Tuesday it's hit 7.12 and 7.20 currently with BLCO up the past few days currently 15.32

Friday after the 4th of July BHC closed at 7.23 with a range of 6.99 - 7.27 and 2.6 million shares traded...
200DMA 7.86
50DMA 6.97
20DMA 6,83
Really nice trading range and 50DMA should start heading up soon. I expect a couple days red (after 6 black days) but the way it's going it's just slowly climbing the stairs up.

Today was a shortened trading day with tomorrow being closed for the 4th of July...
BHC closed @ 7.15
and the range was 7.08 - 7,18
200DMA 7.86
50DMA 6.99
20DMA 6.78
Volume was 1.2 million and yesterday 1.6 if I recall so not bad having 1.2 with 3 less hours of trading.

Just over 5 months later and getting court ruling in our favor...
BHC 7.11
BHC 14.69
However BHC did make a new 52 week high the past 5 months to 11.46 around the time of the court ruling but went as low as 6.05 before heading back up now...Choo choo

Less than 5 months later and BHC is more than half below BLCO shares. Early this year it was trading like shares were coming. Been trading at a massive discount the past 6 weeks. Today BHC 7.11 and BLCO 14.66

Looks like I made a mistake yesterday as BHC closed today @7.11 up .02 so I missed that 7.09 close yesterday and thought it was 7.11
Range was 6.95-7.14 so each day creeping just a tad higher and that's all good.
200DMA 7.87
50DMA 7.02
20DMA 6.74
So the top two DMA's are still heading down but the 20DMA is heading up so hopefully if there's any dip in the coming few days/weeks it will be a good support. Tomorrow the market closes early and is closed on the 4th so Friday will be interesting if any major events happen before next week. I traded accordingly but still got some extras if this thing takes off. WWWwwweeeEeeEEEeee

Another good day in BHC with a 7.11 close.
Range was 6.93-7.12 On 2.5 million traded...
200DMA 7.88
50DMA 7.05
20DMA 6.71
So I traded accordingly with about 40% of the calls I had. Got out of all the calls I had before the next ER and might add some back if we pull back under 7 this short trading week...
I just think it will break below the 50DMA at some point in the next two weeks especially if it gets stuck between 7.20-7.60 Nothing wrong with taking some profits and I've still got my core and extras for next year just in case we keep going.

Got to love 'checking out' and not having a cell for a day. The 'view' was also excellent.
So to end this week BHC closed @ 6.97 on 3.25 million traded.
Range was 6.86 - 7.00
200DMA 7.89
50DMA 7.08
20DMA 6.67
Probably get resistance at the 50DMA but if a dip happens the 20DMA might be the support. Staying above 8 will be hard with the 200DMA below that. Will need news to make a sustained rally. BLCO showed some weakness going from 14.91 down to 14.41 but if BHC is getting 80% of the shares then BHC is still extremely undervalued.

Was driving to the hot springs yesterday so only got a screen shot of the day's trading.
BHC 6.89 close with 2.12 million traded.
Range was 6.68-6.91 so a little lower and higher from the day before.

Today BHC closed at 6.79 on 2.9 million shares
Today's range 6.70-6.88
200DMA 7.90
50DMA 7.15
20DMA 6.61
Was right about it being red today but the range was higher which might be setting up a test to the 50 and maybe 200DMA's in the near future.

Today BHC closed at 6.80 on 2.6 million shares traded.
Today's range was 6.60-6.83
200DMA 7.91
50DMA 7.19
20DMA 6.59
It tried to end the day green but just couldn't do it and closed in the red. Was a really good bounce off the low just above the 20DMA. Probably a red day tomorrow but will be interesting to see how it all plays out overall...

I forgot to post yesterday. lol
BHC 6.83 close and I think 6.72-6.92 range with less than 2 million volume.
200DMA 7.92
50DMA 7.23
20 DMA 6.57
Was a slightly up day and not a red candle on chart so holding up better than I thought.

Up 1% to 6.80 with today's range 6.66 to 6.83 in the final seconds with 3.9 million in volume.
200DMA 7.93
50DMA 7.27
20DMA 6.53
I thought we'd hit that 20DMA today but after 5 up days and it barely going higher by a penny in the final seconds I'm not sure we don't have a day or two pull back. Not that far, probably 6.45-6.55. Just a little coil before taking out the 50DMA next week. We shall see...

Here we go...
BHC up 4% to close at 6.73 with today's range 6.36 - 6.82 with 3.5 million volume
200DMA 7.93
50DMA 7.31
20DMA 6.51
So the 20DMA is now heading up and tomorrow I think we get close to the 50DMA for a 5th up day...Then maybe a pull back over a couple days holding 6.45 then off to the 200DMA setting up a Golden Cross in a few weeks.months hopefully right around earnings.
So far so good and still looks oversold but things are pointing up now.

BHC 6.47 today's range 6.38 - 6.54 was up early and went down med day and then back up with a sell off the last few seconds.
200DMA 7.94
50DMA 7.36
20DMA is 6.48 just above the 6.47 close...
Going to be interesting the last two trading days of the week with Wednesday (19th) being a holiday and a possible mandate of the court issue on the 20th. Any POP will probably be short lived until those DMA's turn the other way but a POP over 12 would get them moving in the right direction rather quickly.

BHC 6.43 todays range 6.20-6.44 started up then went down and came back up to end the day...
200DMA 7.95
50DMA 7.43
BLCO 14.94
Still looks oversold and it could have a huge POP at anytime with good news. Up 25% in a day, no problem but would have a hard time holding that gain with the DMA's all being lower than 8 but it would set up a Golden Cross at a later date. Any news on voting for BLCO distribution and this is a double from here...However the recent death cross could send BHC into the 5's on anything remotely negative. Time will tell.

Death Cross...
BHC 6.20
200DMA 8.02
50DMA 7.99
So we will see what happens the next few days. Looks way way oversold but who knows...If they sell Solta it could easily double and hopefully they'd used the revolver to buy as much debt before that announcement.

BHC 6.56 and traded from 6.27-6.57 so a nice bounce off the recent bottom.
200DMA 8.06
50DMA 8.26
BLCO 15.34

Today 6.08 was hit
So a new low and how low can you go...How low can it go...I keep expecting a quick bear raid down to 5 but it hasn't happened yet. At least then it would feel like a bottom instead of this slow death downward dip...
200DMA 8.07
50DMA 8.32
Looks like the 50 will cross the 200 (Death Cross) but that would set up a Golden Cross at a later date once it goes back up. Just might be some pain before that and hopefully BHC will FINALLY stay out of the single digits unless BLCO shares are given. Who care with BLCO @ 15.50 80% of BLCO would be worth 12 per BHC if I recall so that's almost a double from here. Market pricing in bad things but ER stated still on track. Just need to put all the court stuff in the rear view...Might take another year as it's been 2 since BLCO spin. YIKES!!!

BHC @ 6.36 with a new 52 week low of 6.26 made this week...
200DMA 8.11
50DMA 8.51
MACD -6.09
RSI -40.94
Chart is extremely oversold but that doesn't mean it can't go lower and it seems like it will...


BLCO @ 15.02
200DMA 16.03
50DMA 15.27

I still want to sell Solta and buy back BLCO if we can't distribute the shares... This has been a MESS and GE/GEHC is how it should have looked but all the court cases crashed the ships together after 2 years of being 'stuck' we're looking like sinking ships...
BHC 6.60
200DMA 8.16
50DMA 8.73

BLCO 14.53
200DMA 16.11
50DMA 15.38
Blub...Blub...Blub....Down the drain she goes. lol

6 months later and we're right back where we started. Court did go out way but seems court cases is all this company can do...What a mess...
We did get that golden cross and the stock went over 11 in the past 6 months and I traded accordingly but YIKES!!

Well we're right back where we started. lol
BHC 6.88
BLCO 15.40

One week later and we're back in the old trading pattern...
BHC 6.95
BLCO 15.29
So we've reversed UNO'd back to the old way again. lol
200DMA 8.24
50DMA 9.08
BHC chart looks severely undersold but that doesn't mean it can't go lower. Was playing IRBT recently and 'how low can you go' was no joke with that one. Well at least this crash allowed me to get back in as I'd thought it was GONE after court went out way but now it's a long term hold IMO but getting extra's a 'flipping for freebies' is always a good thing.

Tomorrow morning is earnings...
BHC closed 8.75 even though AH shows 9.48...
200DMA @ 8.31
50DMA @ 9.28
Looking to see debt paid off and news on BLCO spin which had a good ER but still went down and closed @13.74 probably expecting the distribution. We shall see tomorrow.

So what's happened since?!?
BHC is currently 8.71 but it did hit 11.46 just before winning in court over Norwich...
200DMA 8.30
50DMA 9.26
BLCO 14.79 but had gone up over 17.50 after ER...
So it was a good run but that doesn't mean it can't start another run...12.50 maybe 15?!? With Norwich in the rear view there's no reason for the trading ranges to not go to another level up...10's were the ceiling so if it does maybe 10 becomes the new floor...
Back in the day 22.50 was the floor...One day maybe it will be again...

BHC currently 8.84
200DMA 8.29
50DMA 9.22
BHC got Norwich to not be able to make their generic in court but PPS not reacting yet...
BLCO reacted going down to 14 so maybe shares will be coming to BHC shareholders soon.

BHC 8.92 close
200DMA 8.26
50DMA 9.13
With not hearing anything about court this is headed to the 200DMA or previous lower trading ranges...UGH!!!
BLCO 15.64 which is below the 15.78 (50DMA)
200DMA 16.84
Tomorrow it could bounce but who knows need BHC to win in court vs Norwich!

Hoping that BHC will execute relatively quick on releasing BLCO shares to their shareholders. Didn't like the idea at first but it seems like this plan is already in motion. Looks like they sold the IPO offerings at fire sell prices but there is a way for BHC to transfer the last 88.8% of their BLCO holding and capture some funds for debt repayment (rather than selling 8.8% and transferring the other 80%). By using warrant BHC can transfer all 88.8% to their existing shareholders and still net at least 3X what they would if they sold the 8.8% on the market or a closed deal.

BHC went down to 9.06 but 9.24 close
BLCO went below 16 but 16.12 close
BHC 200DMA 8.25
50DMA 9.12
Wow what a ride and now suing Amneal while waiting for Norwich verdict. They just don't want to let BHC shareholders get BLCO shares. Well I added back my BLCO today because if they want to bring it back into the fold it will need a slight premium so we shall see what happens.

BHC currently 10.02 waiting for news on Norwich court. Yesterday 4/3 we POPPED up to about 11.40 on good volume then came back down...I thought it was verdict on Norwich but still waiting but any day now...
200DMA 8.22
50DMA 9.02
BLCO 16.17 right between it's DMA's

BHC @ 9.89
BLCO @ 16.47

BHC @ 9.89
BLCO @ 16.47

BHC @ 9.89
BLCO @ 16.47

Overall market making or near all time highs with NVDA ER...Been a good year trading in 2024 already...Seems like irrational exuberance, lots of M&A and I know a few people (retail) with FOMO who jumped in...So time to take a break before it breaks. Still holding some stuff but not like I was at the start of this week.

Both BHC 9.23 day of ER and BLCO 17.04 day after ER performed well...Traded accordingly

Sold those BLCO's .30 higher today...Chart looks GREAT on both BLCO and BHC but overall market feels really wobbly/frothy still

DOW down 700 1.83%
Bought back my BLCO .50 cheaper than I sold them for yesterday so that's good but overall market will be interesting this week. Could fall off a cliff or bounce right back up to the highs. lol
BHC@ 8.27...Was hoping for a fast touch to the DMA's but it didn't happen. Haven't added back the calls I sold yesterday but still have a core and some flippers in case things go good with the ER.

DOW down 430 over 1%
Nothing like a down market to slow your roll. lol Hence why TRADE ACCORDINGLY and don't 'fall in love' with your stocks. BHC touched 8.10 but doing better @ 8.22 Had it went below 8 I'd added but now I'll wait and see how overall markets play out the day. Went about 50% cash yesterday so might add back plays I lightened up on yesterday. However nothing wrong with sitting on dry powder as things shake out as I'm still invested, just not ALL IN.

8% not 9% my bad

Oh yeah stocks don't trade on weekends. lol
BHC 8.41
200DMA 7.84
50DMA 7.85
Lightened my 3/15 (8's) as the premium was almost .38 higher than the stock. If bad news they'd expire worthless but I expect good news but always be ready and trade accordingly. Was about 9% bounce from the bounce off the DMA's just over a week ago. I expect 15% but not greedy and it sometimes runs into ER and then sells off so...Trade Accordingly

GOLDEN CROSS tomorrow...
BHC 8.17
200DMA 7.83
50DMA 7.82
We shall see what happens going into earnings. Court could announce any day. Chart setting up Golden Cross.
BLCO 13.70
Anything can happen but it's set up for a good run...

BHC @ 8.06
BLCO under 14
We could test 7 before the Golden Cross and earnings today or tomorrow to slow that cross.
200 DMA 7.83
50 DMA 7.79

BHC 8.25
BLCO 14.26
200DMA 7.83
50DMA 7.77
Looking good so far but can always throw a wrench into the machine as the volume has been low the past two uptick days...

BHC 8.07 with a low of 7.78
BLCO @ 14 up 2.4%
200 DMA 7.82
50DMA 7.84
Looking good heading into ER with the Golden Cross. I think we broke 9 this year already so that's possible if the GC isn't disturbed let alone a good ER. I'll trade accordingly and hold a core for hopefully future BLCO shares. If nothing is mentioned about that, I could see BHC trading a half of BLCO like it was before. However both should go much higher IMO and if we get no appeals and a win in court on Xifaxan, then a new 'trading range' 10-12 is possible with a POP to 15-16 before it finds it's trading range. With BLCO at 14, 80% shares times .77 your BHC holdings then divide that into the BHC shares currently is 10.78 valuing BHC as worthless. I also think BLCO will be mid 20's after split sell off is finished. Who knows but I see a LOT of value in both stocks but I flip for freebies and trade accordingly. BHC was a 30 stock on split announcement hype and mid/low 20's when Uncle Carl bought and when Crammer recommended. Those two are good to follow AFTER their plays get hit hard. Hello IEP...Divi kept at 1 or cut will decide that movement. Even if only in the short term. Good luck...