Thermo Fisher Scientific may rise to 669.00 - 685.00

Our pivot point is at 593.

Our preference

The upside prevails as long as 593 is support.

Alternative scenario

Below 593, expect 567 and 551.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 564.7675 and 566.4764).

Supports and resistances

701 **

685 *

669 **

653

621.77 (USD-last)

602

593 **

567 *

551 **

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