Thermo Fisher Scientific Inc Stock Forecast
Thermo Fisher Scientific Inc stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Thermo Fisher Scientific Inc stock price gained 0.487% on the last trading day (Wednesday, 24th Apr 2024), rising from $574.59 to $577.39. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.76% from a day low at $565.23 to a day high of $586.46. The price has been going up and down for this period, and there has been a 0.64% gain for the last 2 weeks. Volume fell on the last day by -670 thousand shares and in total, 2 million shares were bought and sold for approximately $1.08 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.60% during the next 3 months and, with a 90% probability hold a price between $562.45 and $632.03 at the end of this 3-month period.
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TMO Signals & Forecast
The Thermo Fisher Scientific Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $555.49 and $576.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.62%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Thermo Fisher Scientific Inc stock
Thermo Fisher Scientific Inc finds support from accumulated volume at $574.59 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 $21.23 (3.76%) between high and low. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $557.53 (-3.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (TMO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Thermo Fisher Scientific Inc to open at $576.36, and during the day (based on 14 day Average True Range), to move between $564.78 and $590.00, which gives a possible trading interval of +/-$12.61 (+/-2.18%) up or down from last closing price. If Thermo Fisher Scientific Inc takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $580.05 (0.46%) than the support at $574.59 (0.48%), 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 Thermo Fisher Scientific Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Thermo Fisher Scientific Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.731 Buy Candidate Upgraded
Predicted Opening Price for Thermo Fisher Scientific Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $576.36 ( 0.178%) | $577.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 597.59 | 3.50 % | |
| R2 | 589.48 | 2.09 % | ||
| R1 | 584.47 | 1.23 % | ||
| Current price: | 577.39 | |||
| Support | S1 | 568.25 | -1.58 % | |
| S2 | 563.24 | -2.45 % | ||
| S3 | 555.13 | -3.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 584.91 | 1.30 % | |
| R2 | 584.15 | 1.17 % | ||
| R1 | 580.05 | 0.461 % | ||
| Current price | 577.39 | |||
| Support | S1 | 574.59 | -0.485% | |
| S2 | 547.33 | -5.21% | ||
| S3 | 538.98 | -6.65% |
TMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Apr 15, 2024 | $0.390 | 0.0699% |
| 2 | Nov 09, 2023 | Dec 14, 2023 | Jan 16, 2024 | $0.350 | 0.0646% |
| 3 | Jul 13, 2023 | Sep 14, 2023 | Oct 13, 2023 | $0.350 | 0.0725% |
| 4 | May 24, 2023 | Jun 14, 2023 | Jul 14, 2023 | $0.350 | 0.0661% |
| 5 | Feb 22, 2023 | Mar 14, 2023 | Apr 14, 2023 | $0.350 | 0.0594% |
FAQ
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