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Possible Bullish Inside Day Candle Pattern Detected for Danaher Corp (NYSE:DHR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Danaher Corp (NYSE:DHR) based on the price action in the company's shares. Yesterday's price range of $136.23 and $137.73 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Danaher Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Danaher Corp has traded in a range of $94.59 to $147.33 and closed yesterday at $137.20, 45% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.4%.

Danaher Corp (NYSE:DHR) is currently priced 20.8% above its average consensus analyst price target of $108.67. The stock should find resistance at its 50-day moving average (MA) of $140.39, as well as support at its 200-day MA of $129.90.

Danaher Corporation designs, manufactures, and markets professional, medical, industrial and commercial products, and services in the sectors of test and measurement, environmental, life sciences, dental, and industrial technologies.

SmarTrend is monitoring the recent change of momentum in Danaher Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Danaher Corp in search of a potential trend change.

Keywords: bullish am inside day candle Danaher Corp

Ticker(s): DHR