TMO runs into sellers again around 244.37

Thermo Fisher Scientific (TMO) Technical Analysis Report for Sep 14, 2018

Highlights

TMO ends the day on a bearish note closing near the low of the day
TMO runs into sellers again around 244.37
TMO closes within previous day's range

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

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 chart for TMO

Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

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 Thermo Fisher Scientific

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near high of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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