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Archive
- 4/26/2024 -
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Zimmer Bio (ZBH) Technical Analysis
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| Summary:
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| | It was the negative week for the Zimmer Bio (ZBH). During the week, the ZBH gave back -0.08 points, or -0.07%, and closed at 119.35 on Friday, April 26, 2024. Weekly volume was -38% below average.
ZBH is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ZBH long-term trend chart]
A long-term downtrend had started on September 27, 2021 at 153.76 and reached 100.39 on July 14, 2022. ZBH lost 53.37 points, or 34.71%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 102.76 and resistance is at 146.46. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See ZBH medium-term trend chart]
A medium-term downtrend had started on May 2, 2023 at 149.25 and reached 102.05 on October 12, 2023. ZBH lost 47.20 points, or 31.62%, in 23 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 69.17 and resistance is at 132.63. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ZBH weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See ZBH short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 133.90 and reached 118.63 on April 18, 2024. ZBH lost 15.27 points, or 11.40%, in 21 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 113.62 and resistance is at 121.16. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See ZBH daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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