Thermo Fisher Scientific may fall to 503.00 - 511.00

Our pivot point is at 552.

Our preference

The downside prevails as long as 552 is resistance.

Alternative scenario

The upside breakout of 552 would call for 565 and 573.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 565.1335 and 573.2956). Finally, Thermo Fisher Scientific has penetrated its lower daily Bollinger band (538.86).

Supports and resistances

573 **

565 *

552 **

547

533.93 (USD-last)

518

511 **

503 *

495 **

Number of asterisks represents the strength of support and resistance levels.