Thermo Fisher Scientific may fall to 556.00 - 566.00

Our pivot point is at 617.

Our preference

Under pressure below 617.

Alternative scenario

The upside breakout of 617 would call for 635 and 645.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day moving average (respectively at 612.832 and 609.3032). Finally, Thermo Fisher Scientific has penetrated its lower daily Bollinger band (599.12).

Supports and resistances

645 **

635 *

617 **

611

598.61 (USD-last)

576

566 **

556 *

546 **

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