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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $134.01 and $135.93 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. Traders and investors interested in shares of Zimmer Biomet Ho may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Zimmer Biomet Ho (NYSE:ZBH) defies analysts with a current price ($135.13) 1.5% above its average consensus price target of $133.11. The stock should discover initial support at its 50-day moving average (MA) of $124.59 and subsequent support at its 200-day MA of $118.74.

Zimmer Biomet Ho share prices have moved between a 52-week high of $140.53 and a 52-week low of $96.99 and closed yesterday at 39% above that low price at $135.13 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Zimmer Biomet Ho on June 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $119.51. Since that recommendation, shares of Zimmer Biomet Ho have risen 12.1%. We continue to monitor ZBH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle zimmer biomet ho

Ticker(s): ZBH