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Archive
- 4/19/2024 -
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Zimmer Bio (ZBH) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the Zimmer Bio (ZBH). During the week, the ZBH dropped -5.05 points, or -4.06%, and closed at 119.43 on Friday, April 19, 2024. Weekly volume was -10% below average.
 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 102.74 and resistance is at 146.52. 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 70.39 and resistance is at 138.88. 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.
The weekly MACD line is above its signal line since December 1, 2023. The distance between MACD and the signal line is low and getting smaller. 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 price is now at the 5.24% retracement level.
 Daily Technical Indicators: [See ZBH daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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