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Watch for Continued Gains in Shares of Thermo Fisher (TMO)

By Nick Russo

Shares of Thermo Fisher (NYSE:TMO) traded at a new 52-week high today of $344.93. This new high was reached on below average trading volume as 210,000 shares traded hands, while the average 30-day volume is approximately 2.5 million shares.

Thermo Fisher (NYSE:TMO) is currently priced 29.4% above its average consensus analyst price target of $240.86. The stock should discover initial support at its 50-day moving average (MA) of $305.97 and subsequent support at its 200-day MA of $302.82.

Over the past year, Thermo Fisher has traded in a range of $250.21 to $344.93 and is now at $340.98, 36% above that low. The 200-day and 50-day moving averages have moved 0.16% higher and 0.15% lower over the past week, respectively.

Thermo Fisher Scientific, Inc. manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.

SmarTrend is tracking the current trend status for Thermo Fisher and will alert subscribers who have TMO in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows Thermo Fisher

Ticker(s): TMO