SmarTrend Watching for Potential Rebound in Shares of Thermo Fisher Scientific After 1.74% Loss
Thermo Fisher Scientific (NYSE:TMO) traded in a range yesterday that spanned from a low of $147.13 to a high of $149.82. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $150.44 on volume of 818,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Thermo Fisher Scientific has traded in a range of $117.10 to $154.81 and is now at $147.66, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.
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 16.2%. We continue to monitor TMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders thermo fisher scientific