DHR closes above its opening price after recovering from early selling pressure


Danaher Corp. (DHR) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
DHR closes above its opening price after recovering from early selling pressure
DHR unable to break through key resistance level
DHR finds support at 20-day moving average
DHR closes higher for the 2nd day in a row
DHR runs into sellers again around 101.26
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, DHR ended Thursday at 100.78 edging higher $0.08 (0.08%) on low volume. Trading up to $0.32 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DHR
Volatility

Thursday's trading range was $0.88 (0.87%), that's far below last trading month's daily average range of $1.59. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 99.86. Unable to break through the key technical resistance level at 100.99, Danaher Corp. closed below it after spiking as high as 101.26 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move above 101.20 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 101.26. After trading as low as 100.38 during the day, the share found support at the 20-day moving average at 100.61.

Trend

DHR shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 99.86 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Danaher Corp.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DHR breaks below previous session low

Jul 16, 2018
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