ZBH closes within previous day's range
Zimmer Biomet Holdings Inc. (ZBH) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, ZBH finished Thursday at 100.85 gaining $4.02 (4.15%), significantly underperforming the S&P 500 (6.24%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (ZBH as at Mar 26, 2020):
Thursday's trading range has been $8.33 (8.48%), that's slightly below the last trading month's daily average range of $8.94. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for ZBH.
Prices are trading close to the key technical support level at 93.16 (S1). Prices are trading close to the key technical resistance level at 108.10 (R1).
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.