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Possible Bearish Inside Day Candle Pattern Detected for Danaher Corp (NYSE:DHR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Danaher Corp (NYSE:DHR) based on the price action in the company's shares. Today's price range of $81.88 and $82.37 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Danaher Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Danaher Corp have traded between a low of $74.34 and a high of $88.01 and are now at $81.91, which is 10% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 0.81% higher over the past week, respectively.

Danaher Corporation designs, manufactures, and markets professional, medical, industrial and commercial products, and services in the sectors of test and measurement, environmental, life sciences, dental, and industrial technologies.

Danaher Corp (NYSE:DHR) has potential upside of 11.3% based on a current price of $81.91 and analysts' consensus price target of $91.16. The stock should find initial resistance at its 200-day moving average (MA) of $90.75 and further resistance at its 50-day MA of $93.54.

SmarTrend is monitoring the recent change of momentum in Danaher Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Danaher Corp in search of a potential trend change.

Keywords: bearish inside day candle Danaher Corp

Ticker(s): DHR