ZBH pushes through previous session high
Zimmer Biomet Holdings (ZBH) Technical Analysis Report for Sep 14, 2018
Moving higher for the 4th day in a row, ZBH ended the week 5.08% higher at 130.07 after gaining $0.41 (0.32%) today. Today's closing price of 130.07 marks the highest close since July 19, 2017. Trading up to $0.84 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 129.92, the market confirms its breakout through the prior session's high having traded $0.66 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.77 (1.37%), that's slightly below last trading month's daily average range of $1.94. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
2,017's high at 133.49 is within reach and we could see further upside momentum should Zimmer Biomet manage to break out past.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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