Is Thermo Fisher Trade Over?
Published on Tuesday, 03 July 2012 04:03 Written by TradersHuddle Wire
New York, July 3rd (TradersHuddle.com) - Shares of Thermo Fisher Scientific, Inc. (NYSE:TMO) ended the trading session lower by $0.53 or -1.02% from its previous close. Thermo Fisher's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
Thermo Fisher Scientific, Inc. (NYSE:TMO) manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.
Thermo Fisher's current stock range is determined by calculated support defined at $49.43 and by the resistance level at $52.14, which should be used by traders planning their next move.
If traders want to establish a position in Thermo Fisher, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Thermo Fisher for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines