TMO runs into sellers again around 244.37
Thermo Fisher Scientific Inc (TMO) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
TMO ended the week 2.55% higher at 241.98 after losing $2.02 (-0.83%) today on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (TMO as at Sep 14, 2018):
Friday's trading range was $2.80 (1.15%), that's slightly above last trading month's daily average range of $2.59. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 240.88. After having been unable to move above 244.19 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 244.37.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.