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Look for Shares of Thermo Fisher to Potentially Rebound after Yesterday's 3.53% Sell Off

By James Quinn

Thermo Fisher (NYSE:TMO) traded in a range yesterday that spanned from a low of $235.13 to a high of $240.42. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $243.30 on volume of 501,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Thermo Fisher on October 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $234.09. Since that recommendation, shares of Thermo Fisher have risen 4.2%. We continue to monitor TMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Thermo Fisher share prices have moved between a 52-week high of $253.91 and a 52-week low of $181.51 and are now trading 34% above that low price at $243.89 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Keywords: rebounders Thermo Fisher

Ticker(s): TMO