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Uptrend ExhaustionArchive
- 4/5/2024 -
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Thermo Electron (TMO) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Thermo Electron (TMO). During the week, the TMO gave back -1.75 points, or -0.30%, and closed at 579.46 on Friday, April 5, 2024. Weekly volume was -27% below average.
 Long-term trend: [See TMO long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 672.34 and reached 415.60 on October 25, 2023. TMO lost 256.74 points, or 38.19%, in 94 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (389.59) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See TMO medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 415.60 and reached 603.82 on March 8, 2024. TMO gained -188.22 points, or -45.29%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (612.15) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. TMO may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See TMO weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See TMO short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 565.78 and reached 583.84 on April 5, 2024. TMO gained -18.06 points, or -3.19%, in 3 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See TMO daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 14, 2024.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
 Candlestick pattern: [See TMO candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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