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Look for Shares of Thermo Fisher to Potentially Pullback after Yesterday's 1.01% Rise

By Amy Schwartz

Thermo Fisher (NYSE:TMO) traded in a range yesterday that spanned from a low of $262.29 to a high of $264.06. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $261.10 on volume of 768,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Thermo Fisher share prices have moved between a 52-week high of $266.18 and a 52-week low of $199.85 and are now trading 32% above that low price at $264.06 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.2%.

Keywords: rebounders Thermo Fisher

Ticker(s): TMO