• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Zimmer Biomet Ho (NYSE:ZBH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Zimmer Biomet Ho (NYSE:ZBH) based on the price action in the company's shares. Yesterday's price range of $136.98 and $138.11 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 Zimmer Biomet Ho may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Zimmer Biomet Ho (NYSE:ZBH) is currently priced 3.6% above its average consensus analyst price target of $133.11. The stock should discover initial support at its 50-day moving average (MA) of $137.02 and subsequent support at its 200-day MA of $125.45.

Zimmer Biomet Holdings, Inc. designs, develops, manufactures, and markets medical equipment. The Company offers orthopedic and dental reconstructive implants, spinal implants, trauma products, and related surgical products. Zimmer Biomet Holdings serves customers worldwide.

In the past 52 weeks, shares of Zimmer Biomet Ho have traded between a low of $96.99 and a high of $143.57 and closed yesterday at $138.07, which is 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle zimmer biomet ho

Ticker(s): ZBH