Thermo Fisher Scientific Bearish Moving Average Crossover Alert (TMO)
Today, shares of Thermo Fisher Scientific (NYSE:TMO) have crossed bearishly below their 10-day moving average of $152.38 on a volume of 167K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Thermo Fisher Scientific has traded in a range of $117.10 to $153.90 and is now at $152.20, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
SmarTrend recommended that subscribers consider buying shares of Thermo Fisher Scientific on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $129.58. Since that recommendation, shares of Thermo Fisher Scientific have risen 17.8%. We continue to monitor TMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses thermo fisher scientific