Danaher Corporation Stock Forecast
Danaher Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Danaher Corporation stock price fell by -0.360% on the last day (Friday, 19th Apr 2024) from $236.36 to $235.51. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.61% from a day low at $234.03 to a day high of $237.80. The price has fallen in 8 of the last 10 days and is down by -3.59% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 2 million shares were bought and sold for approximately $414.38 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $231.76 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Danaher Corporation stock with a 90% probability to be traded between $235.95 and $263.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DHR Signals & Forecast
There are few to no technical positive signals at the moment. The Danaher Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $239.32 and $248.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -8.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Danaher Corporation stock
Danaher Corporation finds support from accumulated volume at $233.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.77 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: $220.39 (-6.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (DHR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Danaher Corporation to open at $235.78, and during the day (based on 14 day Average True Range), to move between $231.03 and $239.99, which gives a possible trading interval of +/-$4.48 (+/-1.90%) up or down from last closing price. If Danaher Corporation takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $233.93 (0.67%) than the resistance at $239.91 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Danaher Corporation will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.72. We will update the financials statements for Danaher Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.91% in the first trading day after earnings release.
Is Danaher Corporation stock A Buy?
Danaher Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.292 Hold/Accumulate Upgraded
Predicted Opening Price for Danaher Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $235.78 ( 0.115%) | $235.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 239.55 | 1.72 % | |
| R2 | 238.11 | 1.10 % | ||
| R1 | 237.22 | 0.726 % | ||
| Current price: | 235.51 | |||
| Support | S1 | 234.34 | -0.497 % | |
| S2 | 233.45 | -0.87 % | ||
| S3 | 232.01 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 249.40 | 5.90 % | |
| R2 | 244.95 | 4.01 % | ||
| R1 | 239.91 | 1.87 % | ||
| Current price | 235.51 | |||
| Support | S1 | 233.93 | -0.671% | |
| S2 | 233.00 | -1.07% | ||
| S3 | 227.39 | -3.45% |
DHR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 27, 2024 | Apr 26, 2024 | $0.270 | 0.115% |
| 2 | Dec 05, 2023 | Dec 28, 2023 | Jan 26, 2024 | $0.240 | 0.103% |
| 3 | Sep 12, 2023 | Oct 11, 2023 | Oct 27, 2023 | $0.270 | 0.144% |
| 4 | May 09, 2023 | Jun 29, 2023 | Jul 28, 2023 | $0.270 | 0.117% |
| 5 | Feb 22, 2023 | Mar 30, 2023 | Apr 28, 2023 | $0.270 | 0.129% |
FAQ
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