• Return to Headlines

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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Danaher (NYSE:DHR) based on the price action in the company's shares. Today's price range of $84.10 and $84.40 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Danaher Corporation designs, manufactures, and markets professional instrumentation, medical technologies, industrial technologies, and tools and components.

Potential upside of 6.2% exists for Danaher, based on a current level of $84.30 and analysts' average consensus price target of $89.55. 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.

Over the past year, Danaher has traded in a range of $75.71 to $102.79 and is now at $84.30, 11% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Danaher and will alert subscribers who have DHR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle danaher

Ticker(s): DHR