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Thermo Fisher Rises 1.41% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Thermo Fisher (NYSE:TMO) traded in a range yesterday that spanned from a low of $239.06 to a high of $242.63. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $239.50 on volume of 650,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Thermo Fisher has traded in a range of $181.51 to $242.46 and is now at $242.32, 34% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Thermo Fisher on July 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $212.55. Since that recommendation, shares of Thermo Fisher have risen 12.5%. We continue to monitor TMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Thermo Fisher

Ticker(s): TMO