Danaher Corporation Stock Forecast

Danaher Corporation stock downgraded to Sell Candidate
(Updated on Jun 24, 2024)

DHR Signals & Forecast

There are mixed signals in the stock today. The Danaher Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $258.54. On a fall, the stock will find some support from the short-term average at $254.54. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 3.30%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Danaher Corporation stock

Danaher Corporation finds support from accumulated volume at $254.96 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 $5.37 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 1.69%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DHR) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Danaher Corporation to open at $255.99, and during the day (based on 14 day Average True Range), to move between $251.63 and $261.89, which gives a possible trading interval of +/-$5.13 (+/-2.00%) up or down from last closing price. If Danaher Corporation takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $256.80 (0.02%) than the support at $254.96 (0.70%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Danaher Corporation stock A Buy?

Danaher Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.798 Sell Candidate Downgraded

Predicted Opening Price for Danaher Corporation of Tuesday, June 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.