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Watch for Thermo Fisher to Potentially Pullback After Gaining 1.41% Yesterday

By James Quinn

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.

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.

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. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

Keywords: rebounders Thermo Fisher

Ticker(s): TMO