ZBH rises to highest close since February 26th
Zimmer Biomet Holdings Inc. (ZBH) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, ZBH finished Wednesday at 145.93 gaining $1.63 (1.13%), significantly outperforming the S&P 500 (-0.46%). Today's close at 145.93 marks the highest recorded closing price since February 26th. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ZBH as at Sep 16, 2020):
Wednesday's trading range has been $3.60 (2.48%), that's above the last trading month's daily average range of $2.86. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for ZBH.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day although could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 139.77.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.