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

By David Diaz

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. Yesterday's price range of $97.22 and $98.54 is within the prior day'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 $98.88 and closed yesterday at $98.24, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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.

Based on a current price of $98.24, Danaher Corp is currently 0.2% above its average consensus analyst price target of $98.00. Danaher Corp shares have support at the 50-day moving average (MA) of $93.54 and additional support at the 200-day MA of $90.75.

SmarTrend recommended that subscribers consider buying shares of Danaher Corp on October 19th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $90.32. Since that recommendation, shares of Danaher Corp have risen 9.2%. We continue to monitor DHR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle Danaher Corp

Ticker(s): DHR