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Watch for Continued Gains in Shares of Thermo Fisher (TMO)

By David Diaz

Shares of Thermo Fisher (NYSE:TMO) traded at a new 52-week high today of $296.62. So far today approximately 225,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.

Thermo Fisher Scientific Inc. provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

Thermo Fisher (NYSE:TMO) defies analysts with a current price ($296.62) 18.8% above its average consensus price target of $240.86. The stock should discover initial support at its 50-day moving average (MA) of $272.77 and subsequent support at its 200-day MA of $250.30.

Over the past year, Thermo Fisher has traded in a range of $202.83 to $296.62 and is now at $296.62, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Thermo Fisher. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Thermo Fisher in search of a potential trend change.

Keywords: 52 week high/lows Thermo Fisher

Ticker(s): TMO